USD/JPY edges up slightly despite falling US bond yields

The USD/JPY recovered some ground during Thursday’s North American session yet is virtually unchanged, up by a minimal 0.08%, weighed by a fall in US Treasury bond yields. US economic data from the United States (US) shows that inflation is getting lower, yet the Federal Reserve remains skeptical that the battle against higher prices isn’t finished. The pair trades at 156.87 at the time of writing.

From a technical standpoint, the USD/JPY climbs steadily, with buyers remaining in charge, as depicted by the Relative Strength Index (RSI). Momentum shows that bulls are losing steam, yet the RSI remains bullish.


If USD/JPY climbs past 157.00, that could pave the way for further gains, with buyers targeting April 26 high of 158.44. Further upside is seen above 159.00, like the year-to-date (YTD) high of 160.32.