• USD/JPY remains bid above its 144.08 200-HMA as S&P 500 surges 2%

• Treasury yields retreat after report Japan considering trimming long issuance

• Improved US consumer sentiment in May and lower oil also helps to lift mood

• US govt to have veto power over key US Steel decisions as part of Nippon Steel deal: US lawmaker

• Vols and bearish risk reversals retreat as US asset prices and USD advance

• Pair is in neutral as struggles to eclipse a nearby cloud bottom and 21-DMA

• US futures positioning offers potential for more USD/JPY short-covering

• Resist: 144.64 21-DMA; 144.67 cloud bottom; 145.79 55-DMA

• Supp: 143.09, May 26 high ; 142.36 May 6 low; 141.68 April 22 high

• Yen crosses move to upper end of 21-day Bollinger range

• Upcoming 40-year JGB auction, Fed speakers to be monitored in Tokyo Wed.
Yen


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