USD/JPY flows: Correction gather steam

The jump in November Tokyo CPI to 2.6% y/y seems to have triggered anticipation of BoJ hike in December as we see JPY gains strongly. The correction in USD/JPY was stalled on Thursday but seems to have gathered steam on Friday's Asia time. The move aligns with yield dynamics between U.S. Treasury and JGB yet the speculation of an earlier rate hike than currently priced in will be a key trigger for the next leg lower.

USD/JPY is testing the 150 figure by trading down 1% for the session.