• USD/JPY cleared 2023's peaks by 138 as Fed cuts seen less likely

• Roughly 61.8% of the H2 rate cuts priced in after bank crisis now erased

• Also now a slightly higher, but still low, probability of a June rate hike

• Big jobless claims drop, with prior rise mostly due to fraud, lifts Tsy ylds

• Tsy ylds & USD support also boosted by waning US default and banking angst

• A much less negative than f/c May Philly Fed report a plus as well

• Breakout past May/March 137.78/90 highs now eyes key a 50% Fibo at 139.58

• Prices are bumping into daily ATR resistance by 138.70, +0.6% intraday

• That as 2-yr Tsy yields have run into resistance by April's highs

• Japan CPI out Fri could lift BoJ policy shift hopes, but probably not much

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