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USD/JPY Forecast: Ignores spike in super long JGB yields, bullish DMI crossover

From fxstreet.com

The Dollar-Yen pair found support at 112.62 (descending trend line) on Friday and edged higher to 113.13 levels in dull trading on Monday. The spot has extended gains in the Asian session today to 113.66 levels. Super long JGB yields spike The 30-year Japanese government bond (JGB) yield rose from 0.856% (Feb 13 low) to one-year high of 0.925% today. On similar lines, the 40-year yield has rallied from 1.008% to 1.082%. Moreover, markets believe the Bank of Japan (BOJ) would tolerate the rise in the super long JGBs. Meanwhile, the benchmark 10-year yield has remained flat between 0.088% to 0.10% level over the same ... (full story)

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