USD/JPY should trade at 117.50, bullish bias over the coming weeks – Credit Agricole USDJPY Banks
Higher US-T yields and a steepening UST curve imply the USD should be stronger
“10Y JGB yields are trading above 0.20% and near the top of the BoJ's tolerance band for the yield's deviation from the central bank's 0% target. Some of the rise in JGB yields is due to the rise in global yields in general, but is also in part due to the market pricing in some chance of theUSD/JPY to soar towards 120 on US T-bond yields rising above the key 2% mark – SocGen
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