• USD/JPY dropped from 141.17 to 139.89, on Tuesday, lowest level since Sept

• 140 option barriers have been taken out, weakening the market structure

• Rebounds, in part, due to Japanese importers and profit-taking shorts buying

• Dollar looks set for a deeper slump as pessimism soars

• If USD/JPY breaks under Sept's 139.58 low, that would weaken the mkt further

• EUR/JPY is at risk of bucking its usual positive April trend

• Japan sees little scope for grand deal on yen in talks with US

Daily Chart

(Martin Miller is a Reuters market analyst. The views expressed are his own)