The verbal jawboning by Japan finance minister, Shunichi Suzuki, earlier helped the yen currency out a little in Asia trading. But that didn’t last long with USD/JPY now rising to fresh nine-week highs of 148.76. This comes after the technical break of the 100-day moving average (red line) in trading this week.
USD/JPY daily chart
And with support from the bond market, the momentum is continuing as buyers take aim towards the 150.00 mark next. 10-year Treasury yields itself cleared a key technical hurdle in the form of its own 200-day moving average, as seen here.
With USD/JPY now leading the charge ahead of European trading, that could lend a hand to keep the dollar on steadier footing in the session(s) to come.