USD/JPY near year low overnight, lowest since October '24

USD/JPY to 148.40 overnight, near Tues 148.10 trough, lowest since Oct '24

148.02 recorded on Oct 9, 147.35 day before on Oct 8, downtrend resuming?

Asia range so far 148.74-149.01, bounce from o/n low but upside limited?

Japanese importer bids eyed at Tokyo fix but exporters staked out 149.00+?

USD/JPY back below 149.01-70 hourly Ichimoku cloud, 55-HMA 149.24 in cloud

Specs seen gunning for stops sub-148.00, big option expiry level, barriers?

Expiries at strike today $786 mln, tomorrow $656 mln, Monday 1.3 bln

Also today 148.70 $385 mln, 149.00 $740 mln, 20-25 $577 mln, 75-85 $1 bln

US yields higher but focus maybe elsewhere, Treasury 2s @4.014%, 10s @4.293%

JGB yields firm too, 2s @0.845%, 10s @1.496%, JGB-Tsy yields to narrow more?

Risk for more USD/JPY downside, 148.00 break could see spurt to 147.35

In news, Trump exempts some tariffs on Canada, Mexico automakers for a month

US service sector doing fine but inflation maybe accelerating

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