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USD/JPY extends break above 158.26 to above 159 earlier today

The noted technical breakout in the USD/JPY, above 158.26 yesterday saw the dollar lift closer to the 159 handle later in the day. The USD/JPY closed in the US last night at 158.93. Earlier today the dollar vaulted the 159 handle, reaching 159.13. It has backed off from that high just now, but the break above 158.26 clearly remains intact. Perhaps the interesting thing about this move, is that it has taken place against a backdrop of no material gains in US yields. The low seen so far today has been set at 158.82. There will be more to add on that as the price action develops further this morning. The USD/JPY is currently trading at 158.95

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