• USD/JPY up 1.4% and near 129, highest since 2002, with no BOJ restraint

• Odd 10-yr JGB yield trading above BOJ's 25bp caps proved fleeting

• Even if the BOJ raised the cap, upside is limited nL2N2WH13K

• April 2002's 129.15 EBS high and 130 big figure are nearby hurdles

• MOF and BOJ angst re yen's dive yet to translate in actual support

• Could be some tension at the G20 regarding the tumbling yen

• Trade-weighted yen is now its weakest since 1972

• Some see 135, by 2002's 135.20 peaks, as a make-or-break point

• Japan trade data out Wednesday, still seen with a modest deficit

• USD/JPY and crosses hugely O/B, but yen buys like catching a falling knife

• Miles above 10-DMA on-close pivot point, last at 125.67

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