USD/JPY strikes as much as contemporary highs for the yr above 149.00

This builds on the sooner story right here: USD/JPY retests highs for the year as dollar stands its ground

The pair now’s as much as a excessive of 149.15 as consumers search a agency break of the January excessive round 148.80 on the every day chart.

Regardless of the push larger right here, the greenback is barely marginally larger in opposition to the remainder of the most important currencies bloc. Including to that, 10-year Treasury yields are additionally simply barely larger by 1.9 bps to 4.117% on the day. So, this appears to be like to be extra of an remoted transfer greater than the rest.

Positive, we did see some dovish commentary from the BOJ earlier here. However if you weigh that in opposition to the financial institution’s current rhetoric, I do not see it as being that a lot totally different. As of now, it’s nonetheless all concerning the spring wage negotiations after which we’ll see how a lot the BOJ truly needs to alter up the narrative.

In any case, we undoubtedly cannot ignore the charts as merchants. And the technical story is now suggesting that consumers are attempting to push for a break. If that’s the case, the 150.00 mark would be the subsequent crucial level to look at.