USD/JPY continued gaining traction for the fifth consecutive session on Tuesday. The upbeat US economic outlook, rising US bond yields underpinned the USD. A positive risk tone weighed on the safe-haven JPY and remained supportive. The USD/JPY pair surged past the key 110.00 psychological mark and shot to one-year tops heading into the European session. A combination of factors assisted the pair to prolong its recent strong bullish momentum and scale higher for the fifth consecutive session on Tuesday. A generally positive mood around the equity markets undermined demand for the safe-haven Japanese yen. This, along with sustained US dollar buying and rising US bond yields, provided an additional boost to the USD/JPY pair. Investors remained optimistic about the prospects for a relatively faster US economic recovery from the pandemic, which continued underpinning the USD. The expectations were further bolstered by US President Joe Biden’s ambitious pledge of administering 200 million vaccine shots in 100 days and hopes for an additional $3.0 trillion infrastructure spending plan from the US. Meanwhile, the reflation trade pushed the yield on the benchmark 10-year US government bond above the 1.70% threshold or back closer to over one-year tops touched earlier this month. This was seen as another factor that benefitted the greenback and pushed the USD/JPY pair beyond the 110.00 mark for the first time since March 2020, setting the stage for additional near-term gains. That said, RSI (14) on the daily chart is flashing overbought conditions and warrants some caution before positioning for any further appreciating move. Investors might also refrain from placing fresh bullish bets, rather prefer to move on the sidelines as the focus now shifts to Friday’s release of the closely-watched US monthly employment details, popularly known as the NFP report. In the meantime, Tuesday’s release of the Conference Board Consumer Confidence Index, along with the US bond yields might influence the USD price dynamics. This, along with the broader market risk sentiment, will be looked upon for a fresh impetus and some short-term trading opportunities. Technical levels to watch  FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CHF still has the 0.9467 mid-July high in its sights – Commerzbank FX Street 1 year USD/JPY continued gaining traction for the fifth consecutive session on Tuesday. The upbeat US economic outlook, rising US bond yields underpinned the USD. A positive risk tone weighed on the safe-haven JPY and remained supportive. The USD/JPY pair surged past the key 110.00 psychological mark and shot to one-year tops heading into the European session. A combination of factors assisted the pair to prolong its recent strong bullish momentum and scale higher for the fifth consecutive session on Tuesday. A generally positive mood around the equity markets undermined demand for the safe-haven Japanese yen. This, along with sustained US dollar… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.