• USD/JPY rebounded from 125.095 to just above 126 post-ECB, US data

• Treasury yields from 2 to 10-yrs up whopping 11.4 to 14.5 bps

• US data mixed but inflationary; Fed signals 50bp hike nL2N2WC12W

• Less hawkish than hoped ECB seen increasing need for Fed hikes

• USD/JPY's 126.32 Wed and 20-yr peak hit 161.8% Fibo off 2021's base

• A close above the 126.32 EBS peak and 2015's 125.86 high now awaited

• Prices extremely O/B, but uptrend remains intact

• Some angst re Japan's MOF inciting a sell-off, but talk only goes so far

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