• USD/JPY hit a minor new 34-yr high at 151.975 vs 151.94 2022 peak

• Japanese officials held an emergency meeting regarding yen support plans

• Market saw the meeting signaling MoF, BoJ hope to avert a 152 breakout

• Post-intervention threat setback held just above Friday's 151.00 low

• Specs betting against durable intervention, but also Fed rate cut scope

• Also that still wide, if off 2023 peaks, Tsy-JGB ylds spreads will hold

• Fed's Waller speech late today, PCE Fri & ISM, NFP next week now eyed

• Hawkish data may be needed sustain a 152 breakout amid MoF pushback

• Top-heavy daily techs and hefty spec long position possible headwinds

• But more of an issue if US data favor Fed's 3 2024 rate cuts from June

• And if Japanese intervention becomes actual rather than verbal

• A 152 break could see twin Fibos by 155.20 eyed sans intervention

• A sub-151 range could target kijun and cloud by 149.23 on Friday

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