USD/JPY is moving higher despite the pullback in Treasury yields. The yield of 2-year Treasuries declined towards the 4.06% level, while the yield of 10-year Treasuries pulled back towards 4.50%.
Currently, USD/JPY is trying to settle above the 159.30 level. In case this attempt is successful, USD/JPY will move towards the psychologically important 160.00 level.
It should be noted that traders are cautious amid risks of interventions from the Bank of Japan. If USD/JPY manages to settle above the 160.00 level, it will head towards the next resistance at 161.50 – 162.00.
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