USD/JPY is modestly up, reflecting a cautious market amidst higher US Treasury yields and potential for Japanese intervention.
Technical indicators suggest resistance at 152.00, with further targets at 153.00 and 155.00 should the major break higher.
A move below the Tenkan-Sen could see USD/JPY testing support levels down to 148.93, amid ongoing market vigilance.
The USD/JPY remains subdued amid speculation of possible intervention by Japanese authorities. Although US Treasury yields pushed higher during Monday’s session, with the 10-year benchmark note rate rising 11 basis points, the pair stood shy of the day’s high of 151.77. At the time of writing, the major trades at 151.63, up 0.15%.
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