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Higher US yields push the USD/JPY onwards and upwards

Since the last update here on the USD/JPY, the dollar has continued to make headway. The USD/JPY has pushed towards 158.75 now and the move is being supported by a further rise in US yields. The 2 Year note is now nudging 4.76% and that is supporting the dollar, most especially versus the Yen, as it almost always does. The USD/JPY has also busted a further minor resistance level on the way up. That was in place at 158.48, but it has long since blown that level away. The dollar is currently trading at 158.69

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