• USD/JPY is below the key kijun prop at 149.04 on Fed-BoJ policy rethink

• BoJ may lift 10-yr JGB yld cap at 1% again to reduce QE usage, boost yen

• Fed now favored to begin cutting rates as soon as June

• A close below kijun could bring daily cloud top/Oct low at 147.35/30 in play

• Today is first day below kijun line and first high below tenkan since July

• Series of bearish divergences on daily RSIs, weeklies O/B and falling weigh

• IMM specs also $8.3bln net long USD/JPY and at risk if prices tumble

• Last big USD/JPY correction in July neared 100-DMA, cloud base & 2023 up TL

• Those props are now at 145.35 and by 143.44

• Fed seen steady on Wed. Key US labor data this week, with NFP out on Fri

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