USD/JPY chart - Trading View
USD/JPY prints first gains in four days as risk sentiment tracks upbeat signals from S&P 500 Futures and UST yields.
The corrective pullback seems to be finding some support at 200H MA and the 200-DMA, the pair is extending choppy trade along 200-DMA support.
USD/JPY was trading 0.25% higher on the day at 105.66 at around 04:50 GMT, after closing 0.27% lower on Friday's trade.
The US 10-year yield has reached a fresh 12-month high of 1.39%, taking the year-to-date gain to 47 basis points. Rise in yields supports US dollar.
Technical bias for the pair is bullish. Pullbacks are like to be shallow. Major weakness only on break below 200-DMA.
Bounce off 200-DMA and decisive breakout at 55W EMA at 105.82 will see resumption of upside. Next major bull target lies at 106 ahead of 107.15 (nearly converged 110-EMA and 50% Fib).
