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USD/JPY to see a deep correction lower as US yields lose upward momentum – MUFGNEWS | 4/7/2021 7:54:14 AM GMT | By FXStreet Team The US Dollar Index has continued to trade at lower levels after breaking back below support from the 200-day moving average at just above 92.400 on Tuesday. In the FX space, the USD/JPY pair is set to be the pair most vulnerable to lower US Treasury yields, Lee Hardman, Currency Analyst at MUFG Bank, reports. Reversal in FX price action as LT yields lose upward momentum “The trigger for the reversal in the FX market appears to have come from the bond market. The 10-year US Treasury bond yield has moved further below the peak from the end of last month at 1.77% and fell to a low yesterday of 1.65%. The move higher in long-term yields has lost upward momentum since the middle of last month.” 

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