Yields moving higher with 10 year up 5 bp

US treasury yields have moved higher today and that has helped to push the USDJPY up as well. The 10 year yield has a low of 2.325%. The high has extended up to 2.429%. We currently trade at 2.416%.

Technically, the USDJPY held support against the 114.54 area (lots of swing lows in that area over the last 24 hours). The price moved below that floor in the pre-data trading but after the price squeezed higher, buyers leaned against the old level.

On the topside, the pair just ran into resistance sellers against the 100 hour MA at 115.38. Eye support at the 114.93 level now. It is the 38.2% and was an intraday swing high and low in the NY session.