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Rising US Yields Putting Pressure On Yen

JPY

With US yields pushing higher, the yen is under pressure with USDJPY at fresh post-1998 highs.

  • Currently pushing through 148.42, the 1.382 projection of the May 24 - Jul 14 - Aug 2 price swing.
  • After that, next resistance comes in at 149.22 (3.382 proj of the Aug 2 - 8 - 11 price swing).

Intraday USDJPY and 2Y US YieldsSource: BBG, MNI

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