• Overnight price action sees USD/JPY (+0.2%) downside falter at 145

• Though, the subsequent relief has been fleeting as 55HMA (146.11) caps

• Still a sense that USD/JPY rallies will be faded in BoJ/Fed speeches

• Both of which will be key for the short-term

• With EM FX underpressure and G10 FX nearing key hurdles (GBP, CAD)

• Further dollar downside may be harder to come by

• As previously mentioned, Powell will struggle to outdove market expectations

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