USD/JPY retreats from 20-year highs and edges towards 127.70s

USD/JPY retreats from 20-year highs and edges towards 127.70s By christianborjon USDJPY Majors Macroeconomics Technical Analysis

Japanese Government officials expressed concerns about a “weaker” yen, US Treasury yields dropped

The market’s reaction triggered an almost 200-pip reversal, which was also spurred by the US 10-year Treasury yield, falling from three-year highs to 2.863%, down eight basis points, a headwind for the USD/JPY. Nevertheless, despite the negative factors, the dip appears to be a corrective move due to central bank policy divergence between the Federal Reserve and the, which committed to buying 10-year Japanese Government Bonds at 0.25% as it advances its yield curve control .

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