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• USD/JPY firms on improving risk tone, short covering and corp bids

• Pair buoyed by favorable risk tone, higher Trsy yields and EUR/JPY gains

• Yields firm after the U of Michigan survey shows inflation expect. surge

• EUR/JPY rises after German political parties hammers out debt deal

• USD/JPY vols, skews remain under pressure as 148-150 range is established

• Momentum indicators,seasonals and close above 9-day EMA favors upside

• Resist: 149.20 March 12 high; 149.40-46 Feb 20 low and 21-DMA

• Supp: 147.78 March 12 inv. hammer low; 146.94 March 7 low; 146.52 Oct 2 high
Yen

(Robert Fullem is a Reuters market analyst. The views expressed are his own.)