USD/JPY trades to a fresh yearly high (154.85) to keep the Relative Strength Index (RSI) in overbought territory, with the exchange rate still susceptible to a test of the June 1990 high (155.80) as the Bank of Japan (BoJ) is anticipated to retain the current policy. USD/JPY seems to be mirroring the recent rise in long-term US Treasury yields as Federal Reserve officials acknowledge the lack of progress in bringing down inflation to the 2% target, and the exchange rate may continue to track the positive slope in the 50-Day SMA (151.00) as it holds above the former resistance zone around the July 1990 high (152.25). ... (full story)