USD/JPY inter-markets: seems vulnerable to slide further amid prevalent risk-off sentiment

Despite of Monday's comments from BOJ Governor Haruhiko Kuroda that the central bank is ready to act and could deepen negative rates, or do more QE, if needed, the USD/JPY failed to attract any fresh buying interest and faced rejection at 101.00 handle. 

The pair has now erased all of its Friday's recovery gains and is now trading around mid-100.00s. The major's latest leg of downslide was primarily led by a sudden rise in the Volatility Index (VIX), which supported the safe-haven appeal of the Japanese Yen. Moreover, flattening of the US and Japanese 10-year Treasury bond yields near multi-day lows have been supportive of the prevalent risk-off sentiment. 

Moreover, the greenback continues to be weighed down on diminishing prospects of an eventual Fed rate-hike action in November, given the proximity of US Presidential elections to the FOMC's next monetary policy meeting. 

With all the intrinsic justifying the ongoing slide in the pair, any further rise in VIX would turn the pair vulnerable to slide further ahead of the release of the minutes from BOJ's latest monetary policy meeting during early Asian session on Tuesday.