USD/JPY consolidates after trading a well supported 129.62-130.48 range Mon

Boosted by rising U.S. yields; 10-year yield tops 3% for 1st time since 2018

Traders expect Fed to raise rates 50bps & reveal its balance sheet plan Wed

Fed-BOJ monetary policy divergence will continue undermining JPYnL2N2WR1WL

Japan markets closed May 3-5; lack of liquidity may exacerbate price swings

Support 129.75-80, 129.30-40, resistance 130.45-50, 130.80-85

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