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USD/JPY back below 147 again this morning

Yesterday the USD/JPY did eventually manage to rise above 147.15, but it took 3 attempts to push above that level. However, once it did and clearly removed the selling interest that had capped the topside until after the 4pm London fix, the dollar advanced further. The USD/JPY rose to a session high at 147.45 well after the European close. It later ended the US session just above that 147.15 level, at 147.21. However, it has backed off again so far today, despite some pretty benign Tokyo CPI readings earlier on. The dollar has dropped to session lows right now and it seems that a slight drop back in US treasury yields this morning is entirely to blame for that. The earlier session high was set at 147.38. The USD/JPY is right now on session lows, currently trading at 146.78

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