• USD/JPY briefly spiked down from 154.77 to 153.90 on EBS

• No apparent news and move not high volume, so was bought into

• Longs getting jittery as BoJ intervention risk seen high by 155

• But uptrend getting fresh support from rising Tsy yields

• Howver, prices are the most O/B since Oct. 2022's 151.94 peak

• So risk vs reward for new longs a little riskier than on 152 breakout

• Also have twin Fibo objectives at 155.20 as a possible P/T spot

• US data mixed, but Fed speakers keep rate cuts off the table for now

• IMM specs most net long since 2007 also hints at O/B condition

For more click on FXBUZ