USDJPY above the 50% midpoint
As the US yields have reversed and trade near highs with the 10-year now up at 4.431% up 2.1 basis points, the USDJPY has continued its run to the upside.
The pair has now moved above its 50% midpoint of the move down from last week’s high. That high came in at 151.904 which was the highest level going back to 2022.
The subsequent move to the downside took the price down to 147.143 just yesterday. That is a move of around 475 pips in 6 trading days. The subsequent rise has now taken the price up around 259 pips in little over one trading day.