Breaking: USD/JPY pierces key 150.00 level, Japan intervention imminent?

• USD/JPY rises for the twelfth consecutive day to renew a multi-decade high.
• US 10-year Treasury yields refresh 14-year high, 2-year bond coupons rally to the highest since 2007.
• Japan policymakers keep jawboning the prices without actual intervention.
• Risk catalysts, market meddling will be crucial for near-term directions, bulls can keep the reins.

USD/JPY overcomes the early Asian session inaction as bulls approach the highest levels since 1990 while renewing the multi-year top near 150.00 on Thursday.

Earlier in the day, the Bank of Japan (BOJ) announced emergency bond-buying worth $667 million as the yields on the Japanese Government Bonds (JGB) briefly surpassed the central bank’s 0.25% limit.

Developing story...

Technical analysis

A clear upside break of the six-month-old resistance line, now support around 149.55, directs the USD/JPY bulls towards the August 1990 top surrounding 151.65.