FXStreet (San Francisco) - After rallying 45 pips from 101.40 in the American session, the USD/JPY found resistance at 101.85 where the pair tested July 7 and 9 highs.

Currently, USD/JPY is trading at 101.81, up 0.33% on the day, having posted a daily high at 101.87 and low at 101.41. The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.

USD/JPY sentiment

As the USD yields are edging higher, so the USD/JPY trades near highs comments Jamie Coleman from FXBeat. "US 10 year notes are now up 4 bp on the session to 2.512%. USD/JPY trades near session highs, now at 101.81."

Coleman affirms that "offers are scattered up to 102.00, traders relay. If looking to sell strength, set a stop tight above 102.05."

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