This is arguably the only notable mover on the session thus far. USD/JPY is gradually falling as 10-year Treasury yields are also seen down nearly 4 bps to 4.26% on the day. The pair is now down roughly 50 pips to 150.20 as sellers look to seize near-term control:
USD/JPY hourly chart
The hourly chart shows that buyers have been holding a slight defense at the 100 (red line) and 200-hour (blue line) moving averages since the end of last week. But in a swift decline today, both those levels are being threatened to be broken now.
That will see the near-term bias switch to being more bearish, although large expiries and bids near the 150.00 mark might keep the fall more contained for now.
Besides that, there is some minor support around 149.70-80 to help buyers out a little more. But beyond that, the pair might be looking for a steeper fall.
It will depend on the bond market developments of course, first and foremost. But do keep in mind that traders might be looking to price in policy tightening measures by the BOJ, especially after the Japan inflation data earlier today here.