USD/JPY extends the advance from the start of the month despite the recent pullback in US Treasury yields, and the bullish momentum underlying the exchange rate looks poised to persist as long as the RSI holds above 70. As a result, USD/JPY may attempt to test the August 1998 high (147.67) as Federal Reserve Vice-Chair Lael Brainard warns that “monetary policy will need to be restrictive for some time,” and expectations for higher US interest rates may keep the exchange rate afloat ahead as the central bank appears to be on track to retain its current approach in combating inflation. In turn, USD/JPY may continue to ... (full story)