The US dollar is sizzling to start the US trading week as bonds slump.
USD/JPY is through last week’s high of 147.39, which is the best level since last November. There isn’t much standing in the way of 150.00 and beyond.
USDJPY weekly chart
You would like to see new highs in yields to add confidence to this trade but I don’t think it’s necessary so long as the Fed continues to signal a higher-for-longer stance and the Bank of Japan continues ZIRP.