In keeping with positive markets yen is falling lifting USD/JPY off lows

Dollar centre risk-on moves. Most liquid currency sold to buy riskier assets

JPY and CHF as negative yielding currencies are likely to be sold too

USD/JPY may be one of least rewarding dollar short plays

Adding to upside risk in short-term is potential for a spec short squeeze

$4.8 billion dollars sold on the back this year's risk aversion

$3.2billion sold since end Oct with USD/JPY mostly below 105

Weekly cloud 106.70-106.30 should slow a rebound. 100-WMA @ 108.00 may cap