USD/JPY rebounds as merchants give attention to rising Treasury yields. The yield of 2-year Treasuries climbed in the direction of the 4.20% degree, whereas the yield of 10-year Treasrueis settled above 4.70%. Treasury yields are shifting larger regardless of Bessent’s efforts to push them decrease as bond merchants stay anxious about long-term fee outlook.
If USD/JPY climbs above the 50 MA at 159.18, it is going to transfer in the direction of the closest resistance degree at 159.50 – 160.00. A transfer above 160.00 will push USD/JPY in the direction of the 162.00 degree. It stays to be seen whether or not BoJ is able to intervene in case USD/JPY climbs above the psychologically vital 160.00 degree.
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