USD/JPY flows: Continue its March

With USD gaining broadly on risk aversive Friday, USD/JPY inevitable goes north and have its eyes on the 160 mark. We haven't heard any jawboning for the past few days but the current trajectory guarantees one is near.

The jump in long end yields are also alarming with 10yr JGB yields up by 10% in a week, suggesting market confidence in Japan government is fading again in the likelihood of extra energy stimulus. USD/JPY is trading 0.1% higher at 158.51.