The dollar looks deeply overbought against the yen, based on a relative strength index of 81.4 on daily chart, Sucden Financial's research team says in commentary. This raises the probability of a corrective pullback of the dollar toward the 20-day simple moving average near 161 yen or structural support at 161.20 yen, the team says. The U.S. nonfarm payrolls report due Thursday represents a key near-term catalyst, as strong data would reinforce hawkish Fed monetary-policy expectations and possibly lift the dollar above 163 yen, the team says. However, "a disappointing print could provide the backdrop for profit-taking at these extreme levels," the team adds. The dollar is 0.1% higher at 162.70 yen, LSEG data show. (ronnie.harui@wsj.com)