USD/JPY edges higher, 111.00 back on the radar

The greenback is extending its upside momentum vs. its Japanese counterpart on Tuesday, now lifting USD/JPY to fresh tops beyond 110.80.

USD/JPY up on US yields

The pair met extra upside pressure today following the continuation of the up move in US yields and despite US CB’s Consumer Confidence came in short of expectations for the month of April (120.3 act. vs. 122.5 exp.).

US yields are trading in the upper end of the daily range, with the US 10-year benchmark close to session highs around 2.31%.

More results from the US docket saw New Home Sales and the S&P/Case-Shiller index surpassing estimates.

USD/JPY levels to consider

As of writing the pair is gaining 0.92% at 110.78 and a surpass of 110.94 (38.2% Fibo of the March-April drop) would aim for 111.58 (high Apr.10) and then 112.01 (55-day sma). On the other hand, the next support aligns at 109.86 (23.6% Fibo of the March-April drop) followed by 108.95 (200-day sma) and finally 108.11 (2017 low Apr.17).