The USD/JPY pair is experiencing an upward trend due to the disappointment caused by the Bank of Japan’s (BOJ) policies and the increase in Treasury yields. The price has now risen above 149.00 for the first time since October last year, edging closer to the 150.00 mark. It remains to be seen if the Japanese authorities will intervene at this level as they have done in the past. The main driver behind this trend is the higher Treasury yields, which have reached their highest level in 16 years at 4.55%. The breakout from last week’s level is continuing, and it is uncertain when this upward movement will stop without a change in market sentiment. With no major economic data to disrupt this trend, the dollar is expected to continue benefiting from this tailwind in the upcoming sessions.