• USD/JPY bulls appear to have faced exhaustion at session highs near 101.66.
   
• Pair now consolidating the strong rally witnessed in the Asian session after BOJ deputy Gov Iwata's comments.
   
• BOJ deputy Gov Iwata said he expect Japan economy to remain on gradual recovery path and govt stimulus spending to contribute a lot to growth this and next fiscal year.
   
• Iwata added that the BoJ is prepared to ease policy without hesitation if needed to meet 2 pct price target.
   
• USD/JPY turned lower from 5-DMA resistance and is currently holding above the mid-point of 101 handle.
   
• The pair finds strong trendline support at 100.85, break below could see weakness till 99.98.
   
• Techs are inconclusive, we would prefer to remain on the sidelines for now.