US Yield... Helping USDYEN
One of the biggest movers overnight, JPY is down 0.41% vs USD in the G10 space. CitiFX Technicals points out that 10y in US have broken out and real yields are pushing higher. 10y JGBs still stay in the rare negative area suggesting USDJPY should push higher. We would caution around chasing this move here but expect to see buyers around 111.40-50 area. Yields seem to be leading the way and if we get a move towards 2.82% that could push USDJPY higher towards 112.50. We have seen Leveraged buying USDJPY topside
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