USD/YEN Update – 19/09/2017 (11:20am) – by Arjun Lakhanpal

USD/YEN Update – 19/09/2017 (11:20am): After a brief test of daily highs near 111.90, USDJPY has now lost some upside momentum and is now receded towards the 111.60 area. The pair has made 8-week tops in levels just below the critical 112.00 limestone.  The sharp rebound in yields of the key US 10-year reference is giving extra oxygen to the pair’s uptick, all coupled with increasing selling bias surrounding the Japanese safe haven currency.