USD/JPY rallies to session high alongside Treasury yields - orders

Higher rates boosting case for USD

USD/JPY is at a session high at 123.40 despite a softer patch in stock markets. Rising yields are good for the US dollar but hurt corporates.

There are reported offers at 123.50 123.80 and 124.00.

Technically, on a close above 123.57, it starts to look like a solid rejection of 122.50.