USD/JPY trades at session highs, getting a boost from the combination of firmer US yields and an increase in risk appetite. US 10-year notes are more than 20 bp firmer( at 3.77%) in yield in less than 24 hours, a level of volatility that bond traders could not have comprehended much more than a year ago.
Offers are seen toward 96.50 and again in the 96.75/80 area. With good buying on dips to the 95.50 area in recent sessions, traders will likely look to lighten up on strength near-term.
