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\n Share:<\/span><\/p>\n The USD\/JPY prolongs its rally to five consecutive days, exchanging hands above the 151.00 figure, shy of challenging the 13-month high reached on October 31 at 151.72. A jump in the 10-year US Treasury bond yield after a weak 30-year US bond auction and Federal Reserve (Fed) Chair Jerome Powell’s hawkish pullback are tailwinds for the major. At the time of writing, the pair trades at 151.50\u2019, posting minimal gains of 0.11%:<\/p>\n Marker participants continued to digest Powell{s words, which signaled the US central bank remains worried about inflation, and that it would raise rates if needed. Growing concerns that the policy is not sufficiently restrictive remain. That spurred a leg-up in the USD\/JPY, along with the rise of US bond yields.<\/p>\n Meanwhile, a sudden improvement in market sentiment has witnessed US bond yields retreating some after data from the University of Michigan (UoM), suggests Americans are less confident regarding the economic outlook<\/a>, as the index eased from 63.8 to 60.4. Regarding inflation expectations, upside risks are lingering, as households see prices climbing 4.4% in a year from now, and 3.2% in five years.<\/p>\n On the Japanese front, the USD\/JPY remains capped due to intervention threats by authorities namely the Ministry of Finance (MoF). Officials had been jawboning that volatility<\/a> and further Yen depreciation could suggest action from authorities. They remain saying that the Forex movement should reflect fundamentals.<\/p>\n Next week, the USD\/JPY pair<\/a> would get some cues of US Retail Sales, and inflation data in the United States (US). \u00a0In Japan, the calendar<\/a> would feature the release of GDP, Industrial Production, and the Trade Balance.<\/p>\n\n
Yen struggles as USD\/JPY approaches October peak, with US bond yields and Fed policy in focus<\/h2>\n
USD\/JPY Price Analysis: Technical outlook<\/h2>\n