USD/JPY hits highest bids in a year, taps 150.32

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• The USD/JPY has set a new 12-month high early Thursday, tipping over 150.30 as the Yen recedes further.
• US Treasuries continue to push into 16-year highs, bolstering the US Dollar.
• 150.00 remains a critical level for the USD/JPY, a historical defensive level for the BoJ.

The USD/JPY ripped into a twelve-month high above 150.30 late Wednesday as markets continue to test the Bank of Japan’s (BoJ) resolve at defending the 150.00 handle, a level that has seen the BoJ draw a line in the sand on multiple occasions in the past.