• USD/JPY rejected at session highs by 106.40 as Yen extends bull run amid Brexit-driven risk-off.
   
• The pair is extending its downward trajectory for the fourth straight session this Tuesday.
   
• Sentiment across markets remains dampened by intensifying Brexit concerns amid a shift in votes towards the Leave camp.
   
• Japanese finance minister Taro Aso crossed the wires earlier on the day, said closely watching UK referendum as it could have a major impact on markets.
   
• He said that FX stability is extremely important and govt will respond to FX market as needed in accordance with G7/G20 agreement.
   
• Markets expect no change in the monetary policy settings by both the Fed and BOJ. US retail sales data due later in the NA session will be watched.
   
• Technically we see scope for further downside, the pair remains capped below strong trendline at 106.42 and 5-DMA at 106.65.
   
• Little support seen on the downside till 105.55 (May 3rd low) and then 105.20 (Oct 13th low).
   
• We stick to our call (http://www.econotimes.com/FxWirePro-USD-JPY-slips-below-106-handle-hits-5-week-low-of-10581-bias-lower-220788). Stay short for targets.