• USD/JPY still working through its most extreme O/B conditions since 2016

• Dodgy U.S. data added to early wobble to 108.775 EBS low nL1N2LE11E

• Recovered above 109 with Treasury yields before 20-yr Tsy auction

• Dwindling spec shorts sapping the pair of easy squeeze fuel nL1N2LE1DM

• Overbought uptrend is intact, though, while above last week's 108.28 low

• 76.4% Fibo of late-March to Jan slide and June's high are eyed at 109.56/85

• 2020's pre-pandemic high at 110.30 doable if Fed-BOJ let ylds spreads rise

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