• USD/JPY offers into 120.30 cap to start NorAm day amid London & Japan holidays
  
  
• Minor retracement & hourly Hi/Lo supports at 119.86-90 & 119.60
  
  
• Decent support into 120 & the Cloud top at 120.03, but Treasury yields are slipping
  
  
• Fed speakers/Factory Orders coming up later in the day
  
  
• BOJ's reflation goals looking ever more elusive & QQE3 more likely in H2
  
  
• Rebound in NFP expected Fri & rate spreads to support unless stocks drop