• NY opened near 157.60 after 158.07 traded on EBS in Asia, slide extended

• Soured risk sentiment drove investors into the safety of Japan's yen

• US yield drops reinforced safety bid & weighed on the US$

• Equity drop and USD/CNH rally helped to reinforced bid for safety

• USD/JPY hit 156.69, a 5-session low; drop stalled near the 10-DMA

• Pair bounced as risk improved, neared 157.35, then slid, down -0.46% late

• Falling daily RSI, bearish outside day candle are concerns for USD/JPY bulls
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)