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June, 12 - USD/JPY stages a goodish intraday recovery

The USD/JPY pair held on to its goodish intraday recovery gains and was last seen trading just a few pips below daily tops around the 107.20 region.

USD-JPY1206The pair quickly reversed an early dip back closer to one-month lows and managed to attract some buying interest near the 106.60 region. The uptick on the last trading day of the week was sponsored by a solid rebound in the US equity futures, which undermined demand for the safe-haven Japanese yen.

Bulls further took cues from a strong pickup in the US Treasury bond yields, which further collaborated to the pair's rally of over 70 pips from daily swing lows. However, subdued US dollar price action failed to impress bullish traders or provide any additional boost to the USD/JPY pair.

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