USDJPY runs up to test the 100 hour moving average

The surge in yields and the bullish run in stocks have propelled the USDJPY upwards. The price recently peaked at 133.66, slightly above a swing area between 133.50 and 133.652, as well as the falling 100-hour moving average at 133.696. The current price is trading at 133.54. A breakthrough above the 100-hour moving average would lead traders to target the retracement level from last week's high at 134.069. For now, sellers are leaning against the resistance.

Earlier today, the price dipped to a low of 131.709, coming close to the high of a swing area near 131.567.

The two year yield is currently at 4.14% up 16 basis points on the day. The high-yield today reached 4.214%. The low yield was at 3.822%. Looking at the 10 year, it is currently trading at 3.563% up seven basis points. It's high-yield reached 3.587%. The low yield was down at 3.369%.