USD/JPY underpinned by US yields

FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, observes higher yields were supporting the pair.

Key Quotes

"Firmer UST yields underpinned the USD-JPY on Tuesday while latest trade numbers and BOJ MPC minutes proved uneventful for the USD-JPY early on Wednesday".

"Expect any potential shocks to the USD or US yields from the FOMC tonight to manifest visibly via the USD-JPY, with 102.40 expected to limit on the upside in the interim while the 200-day MA (101.61) may cushion on dips."