USD/JPY stays poised in push towards the 150 mark

<p>The BOJ disappointment and higher Treasury yields are two key drivers for further upside in USD/JPY. And that push is continuing today, with price testing waters above 149.00 for the first time since October last year.</p><p>We're now just a hop, skip, and a beat away from touching 150.00 mark and it will be interesting to see if Japanese authorities will use that same level to direct intervention efforts again.</p><p>In terms of the key drivers, higher Treasury yields is definitely the main one as we see 10-year Treasury yields hold at 4.55% today – its highest level in 16 years. The breakout from last week <a href="https://www.forexlive.com/news/treasury-yields-breakout-in-focus-post-fed-20230921/" target="_blank" rel="follow">here</a> continues to run and it's tough to pick a stop to it until something changes in broader market sentiment.</p><p>Outside of month-end flows this week, there isn't much to really shake things up in terms of economic data and that means the dollar could continue to benefit from this tailwind even more in the sessions ahead.</p>

This article was written by Justin Low at www.forexlive.com.