• USD/JPY rose 0.58% as MoF, BoJ yen support efforts continued to fail

• Japan's MoF and BoJ continue to lean against the yen's weakness

• But even with dovish US data on Friday, USD/JPY quickly rebounded

• And did so after finding support by 2023/22 peaks near 152

• Prices now nearing 50% of last week's collapse, April 30 low at 156.05/08

• Big drops in Tsy-JGB ylds spreads appear to have bottomed out

• Those spreads remain attractive as is low-yield yen as a funding currency

• Focus beyond possible intervention risk is US CPI, sales data May 15

• Wed's Fed speakers supported Treasury yields and the dollar

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