USD/JPY reverses from 141.50 high as 30-year Treasury yield tops 5%

USD/JPY has retreated 0.4% from session highs near 141.50 as the 30-year US Treasury yield briefly surpassed 5% for the first time since 2007. The jump in long-term yields reflects investor jitters over the US debt ceiling and potential for higher government borrowing costs. However, safe-haven demand for the Japanese yen is capping USD/JPY upside. Technically, the pair formed a bearish inverted hammer candle on the daily chart, hinting at a possible short-term top. Initial support is seen at the 140.00 psychological level, with 139.50 below that. A climb above 141.50 could negate the bearish pattern.