Snapshot: Nikkei 225 is correcting after a strong run, closing down 0.98% in Tokyo. BoJ board member Masu’s speech offered no fresh hawkish signals, contributing to profit-taking. Attention now turns to US data due at 08:30 ET.
- A break below 62,500 could trigger further downside.
- Watch for reactions to US yields, particularly the 10Y real yield continuing its upward trend, which poses a headwind.
Bias into NY: Cautious near-term. Without a fresh bullish catalyst from the BoJ or positive surprise from US macro prints, we expect continued consolidation around 62,500, with a potential test of 62,000 if risk sentiment sours.