The USD/JPY has hit 135.00 for the first time in twenty years, fueling concerns over the yen’s weakness. Japan’s top officials are ready to “respond appropriately” to the yen’s weakness. The RSI shows a bearish divergence in the 4-hour chart. The USD/JPY price fell as investors took profits at 135.00, pushing the pair lower on Monday morning. For the first time in 20 years, the pair surpassed 135, pushed by a rise in Treasury yields, with the 10-year period reaching 3.201%. -Are you interested in learning about forex tips? Click here for details- Two-year Treasury yields, which are very sensitive to policy expectations, went up as high as 3.159% in Tokyo on Monday, the highest since December 2007. The US dollar index, which measures the currency against six major peers, including the yen, reached 104.55 for the first time in nearly a month. On Monday, Japan’s top government spokesperson said that Tokyo is concerned about sharp falls in the yen currency and is ready to “respond appropriately” if needed. These remarks failed to stop the yen from plunging to its lowest since 1998 against the dollar. Hirokazu Matsuno, Chief Cabinet Secretary, said that currency rates should move in a stable way to reflect fundamentals. He said they were concerned about the recent sharp moves in the yen and would respond appropriately. “The yen’s recent sharp declines are negative for Japan’s economy and therefore undesirable, as they make it hard for companies to set business plans,” Kuroda, the bank’s governor, told parliament on Monday. Japan’s policymakers have started singing a different tune. However, the markets will wait to see if the recent weakness in the yen will push the Bank of Japan to follow in the path of other central banks. USD/JPY key events today The US and Japan will not be releasing any important economic news today, meaning the pair will continue to react to comments by Japan’s top officials. Get FREE Forex Signals Now! USD/JPY price technical analysis: RSI forms bearish divergence at 135.00 Looking at the 4-hour chart, the price has been trading above the 30-SMA for some time now, showing a bullish trend. However, this trend might be coming to an end as the RSI is showing a bearish divergence. This divergence is more significant because it occurred at 135.00, critical resistance. -Are you interested in learning about the forex basics? Click here for details- The bearish divergence might push the price lower to 133.50. The trend will only turn bearish if the price breaks below 133.50 and pushes lower. Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Majors share Read Next GBP/USD Price Crashes as DXY Rallies Ahead of FOMC, Eying 1.2165 Olimpiu Tuns 8 months The USD/JPY has hit 135.00 for the first time in twenty years, fueling concerns over the yen's weakness. Japan's top officials are ready to "respond appropriately" to the yen's weakness. The RSI shows a bearish divergence in the 4-hour chart. The USD/JPY price fell as investors took profits at 135.00, pushing the pair lower on Monday morning. For the first time in 20 years, the pair surpassed 135, pushed by a rise in Treasury yields, with the 10-year period reaching 3.201%. -Are you interested in learning about forex tips? Click here for details- Two-year Treasury yields, which are very sensitive… 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.