USD/JPY slips from 114.20 to a low of 113.91
The drop comes as Treasury yields are easing lower after a light advance earlier, with 10-year yields down to 1.57% from around 1.60% at the start of the session. 2-year yields have also eased lower to 0.46% after sticking around 0.47% to 0.48% earlier.
The bond market is still working to figure itself out after the Fed but any pushing and pulling will have significant reverberations for yen pairs so keep an eye out for that.
USD/JPY has pared its advance on the day but buyers are still trying to keep a more bullish near-term bias above the key hourly moving averages @ 113.88-98.
That said, any significant upside is still left wanting as resistance around 114.45-70 from the recent highs is also helping to limit gains from a technical perspective.
