Bond yields up a bit
The USDJPY has pushed to new NY session highs and in the process are testing the 200 day MA at 108.73. The swing low from April 13th at 108.716 is also being tested. The high just reached 108.758.
Bond yields area up 1 bp in the 10 year (yields have been mostly lower by a bp or 2 today) and stocks continue their squeeze higher. The S&P is up 0.62%. The Nasdaq is up 0.60%.
Right now, the momentum in the USDJPY has slowed against the 200 day MA. Traders are taking a breather. If sellers here are squeezed with a move toward 108.80 however, I would not be surprised to see the intraday sellers right here, reverse and go long (or at least get out of their shorts). Key level for the USDJPY traders.