USD/JPY could still go higher

. However, we would say that the difficult external environment and the unwind of the carry trade will give the Yen some support on the crosses. Investors will also be reluctant to chase USD/JPY up through 150 near term.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.EUR/USD remains on the defensive around 1.0470 amid a US Dollar upside consolidation. The pair's rebound appears capped by firmer US Treasury bond yields, in the face of hawkish Fed bets. Traders look to ECB Lagarde's speech and EU data ahead of the US ADP jobs report. GBP/USD is consolidating in a narrow band below 1.2100 in the European morning on Wednesday.

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Asia Day Ahead: USD/JPY Firm Despite Potential Intervention, NZD/USD at 3-Week LowUS Treasury yields continued with their ascent overnight, with the US 10-year yields at 4.8%. Aside, the VIX is at its four-month high, hovering just below its key 20 level.
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