The yen continues to implode

Up, up, and away.

There's still no stopping the upwards trajectory in yen pairs as the currency continues to implode in March trading. USD/JPY JPY The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by Read this Term has now climbed above 123.00 as buyers continue to target the 125.00 level next.

It's a tough situation for Japanese officials as the pace of the move is rather uncomfortable. I reckon the 125.00 level should provide some natural resistance but there are other issues for the BOJ such as the one here today. 10-year JGB yields have now hit their supposed upper limit of 0.25%:

That's a key line that the BOJ will have to defend and it is a tough one considering the continued surge in bond yields globally. 10-year Treasury yields are up nearly 2 bps on the day to 2.51% currently.

One pair that continues to captivate me over the past few weeks has been AUD AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term/JPY and the early moves today suggest a potential for a ninth straight week of gains. That's really something.