USD/JPY is soaring as the risk aversion that dominated the first three days of the week is swept away with one economic report. Prices have retraced more than half the week’s losses and are eying 91.52, the 61.8% retracement of the 92.32/90.22 decline. 90.80/85 is solid support on pullbacks near-term.
Rising US yields are contributing to USD/JPY strength this morning as the 10-year note adds 5 bp to yesterday’s closing yield. We’re now at 3.47%
