USD/JPY supported in Asia after 1.7% rally Fri as BOJ keeps ultra-low rates

Underpinned by U.S. inflation data which backs a Fed rate hike on May 3

BOJ policy divergence viz-a-viz other major c.banks weakens JPY broadly

JPY plunges to lowest since Sept 2008 vs euro ahead of ECB Thu rate meeting

Labour Day holiday in many Asian & European centers Mon will limit activity

Cautious trading likely ahead of Japan Wednesday-Friday market holidays

Resistance 136.66, 38.2% Fibo of Oct-Jan fall and 136.98, 200-day MA

Support 135.75-85, 135.50; First Republic auction result awaited

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