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USD/JPY at Inflection Point as Copper Eyes Record High

By: 
Christopher Lewis

USD/JPY tests a key inflection point as Treasury yields rise, while copper eyes record highs and platinum shows signs of short-term exhaustion.

US 2 Year Yields Technical Analysis

Daily candlestick chart for US 2-Year Treasury Yield (US02Y) showing yield at 4.381%, with the 50-day EMA at 4.224% and the 200-day EMA at 3.981%.
Daily chart for US 2-Year Treasury Yield showing yield rising to 4.381% above the 50 EMA (4.224%) and 200 EMA (3.981%). Source: TradingView

I’m going to start here with the two-year yield because that’s really showing that people believe the Fed is going to have to raise rates with that short-term inflation. Right now, we’re at 4.38%, with the 10-year close to 4.8%.