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USD/JPY pushing towards 152 again as US yields hit session highs
The US 10 year treasury yield has just now lifted to a session high, at 4.238% and that move has prompted another rise in the USD/JPY. Earlier this morning the dollar got to 151.79 and then backed off to below 151.50 as the gain in US stalled. Well, as you can see, those yields are rising again and that is pushing the USD/JPY back close to its earlier high. It has not surpassed it yet, but it is tracking the move in US bonds and to the very slightest degree again today. That has been the case all week so far and most of the recent trading days too. The USD/JPY is still being capped by the 200 day moving average though. That was at a level highlighted here this morning and it is at exactly 152.00. That is the next line in the sand for the USD/JPY today, assuming this upside move have more legs. The USD/JPY is currently at 151.69
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