Verbal pressure from Japanese Finance Minister Shunichi Suzuki earlier helped the yen rise slightly in Asian trading. But that was short-lived with USD/JPY now rising to a nine-week high of 148.76. This comes after the technical breakout of the 100-day moving average (red line) in this week’s trading.
USD/JPY daily chart
Supported by the bond market, the momentum continues as buyers target the 150.00 level next. 10-year Treasury yields have cleared a major technical hurdle in the form of their 200-day moving average, shown here.
With USD/JPY now leading ahead of European trading, this may help keep the dollar on a firmer footing in the upcoming session(s).