• USD/JPY recovers from early drop to 147.155 as US ylds rebound, risk slips

• Rebound in ylds aided by poor 10-yr TIPS auction, slightly by Fed minutes

• Prices, Tsy ylds were O/S short-term ahead of Thu-Fri US holiday

• Rebound in Tsy ylds after financial conditions eased, made Fed cuts harder

• USD/JPY being drawn to repeated, large 149 options expiries

• Those are near Nov. 3 & 16 lows at 149.18/20 & 55-DMA at 149.31

• Bearishly converged daily tenkan & kijun are at 149.54

• Need a daily range above them and 150 to soften the broadly bearish outlook

• Daily cloud top at 148.66 nearby after buyers found below Oct's 147.30 low

• Eventual drops to 100- and 200-DMAs, 146.58/1.55 now, are likely M-T

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