USD/JPY rebounds towards 144.10 resistance on higher US yields
USD/JPY has risen 0.5% to 143.90, stretching towards the first resistance at 144.097 amid a rebound from recent lows. The rally is primarily driven by rising US Treasury yields, with the 10-year yield climbing 3 basis points to 3.72%. However, a cluster of technical resistance levels, including the 200-bar MA (4-hour chart) at 144.097, the 50% Fibonacci retracement of the May range at 144.257, and the 100-hour MA at 144.44, could limit further upside momentum. Traders are closely monitoring these key levels for potential reversals or breakouts. A sustained break above 144.44 could open the door for a test of the May high at 145.07, while a rejection at the resistance cluster might lead to a pullback towards the recent swing low at 142.50.
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