• USD/JPY up to 135.23 on EBS; highest since Dec. 20, day BoJ tweaked its YCC

• Poor Japan PMI vs a US PMI beat lifted Tsy-JGB yield spreads nL1N35116Q

• But Tsy yields came off Tues's peaks on poor homes sales and risk-off flows

• Charts suggest a rise to 38.2% of Oct-Jan drop at 136.66 is likely

• That target is by 100-, 200-DMAs, 21-WMA and daily cloud top at 137.00-47

• Prices getting overbought on dailies, but no sign of a top yet

• Fri is key w BoJ nomination hearings, Japan CPI and US PCE, income/spending

• New peak Fed hike pricing & 2-yr Tsy-JGB ylds spreads by 2022 peak Tues

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