• Choppy and illiquid early, trades at 130.65 after a 130.54-131.40 EBS range

• Japanese holiday explains the erratic start - risk appetite and USD to lead

• BOJ considering raising inflation forecasts to near 2% target - Nikkei

• Japan moving away from loose policy behind Nov/Dec yen strength nL1N33L014

• Charts; momentum studies crest or fall, 21 day Bollinger bands slide

• 5, 10 & 21 DMAs fall, Tenkan and Kijun lines flat line - net downside bias

• 135.23 Kijun line capped in December - now distant pivotal resistance

• 130.58 low on Dec 20th first support, break targets 128.16, 61.8% 2022 rise

For more click on FXBUZ