USD/JPY surpasses June limit
Even as US Treasury yields retreat from their monthly high, USD/JPY breaks through the June range. Additionally, upcoming developments in the Relative Strength Index (RSI), which is on the verge of entering overbought territory, could indicate further currency gains.
A rise in the US CPI may result in a bullish reaction in the US Dollar as the headline reading for inflation is forecast to increase to 8.8 percent from 8.6 percent per annum in May, and a move above 70 in the RSI is likely to be accompanied by a further appreciation in USD/JPY like the price action seen during the previous month.
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