USDJPY trades back above its 50% midpoint of the recent move down from the 2023 high
<figure data-media-><img src="https://images.forexlive.com/images/USDJPY_id_5239fa86-e37f-4727-a8f2-179a2610252a_original.jpg" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/USDJPY_id_5239fa86-e37f-4727-a8f2-179a2610252a_original.jpg" /><figcaption><div>USDJPY above the 50% midpoint</div></figcaption></figure><p>As the US yields have reversed and trade near highs with the 10-year now up at 4.431% up 2.1 basis points, the USDJPY has continued its run to the upside. </p><p>The pair has now moved above its 50% midpoint of the move down from last week's high. That high came in at 151.904 which was the highest level going back to 2022. </p><p>The subsequent move to the downside took the price down to 147.143 just yesterday. That is a move of around 475 pips in 6 trading days. The subsequent rise has now taken the price up around 259 pips in little over one trading day.<br></p>
This article was written by Greg Michalowski at www.forexlive.com.
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