USD/JPY flows: Reversing earlier gains

USD/JPY is trading higher in the opening hour but as session progress, the sour risk sentiment seems to have attracted bids to the haven JPY. Japanese market are closed today and most will be waiting for Toyko CPI on Tuesday and labor cash earning later to assess the pace of policy change from the BoJ. 10yr JGB yields continue to stay depressed around 0.6% which seems to be limiting current JPY strength.

USD/JPY is now trading 0.12% lower at 144.41.