Japanese 10-year yields are only up a single basis point today but it's instructive to take a look at the long-term monthly chart of Japanese yields as they show a worrisome trajectory, even if the absolute level is still low.
USD/JPY 10y
I wouldn't expect the FX market to get too excited until 2% but that would blow up the carry trade and sink USD/JPY to 115, so long as it wasn't on solvency concerns.
