USD/JPY chart - Trading View
USD/JPY was trading 0.07% higher on the day at 104.30 at around 04:55 GMT, outlook turns bullish.
The pair erased early losses and edged higher from session lows at 104.10 to hit session highs at 104.32.
US dollar is tracking rise in treasury yields. 10-year UST yield has jumped to fresh 10-month highs near 1.15%, up more than 20 basis since last Tuesday, causing a steepening of the bond yield curve to the highest level in three years.
Technical studies are bullish. Oscillators are biased higher. MACD shows a bullish crossover on signal line.
Price action is currently struggling at daily cloud at 104.32. Break above cloud will propel the pair higher.
Next major hurdle lies at 110-EMA at 104.77. 55-EMA is immediate support at 104.08. Retrace below negates upside bias.
