USD/JPY trinity

Adding more to USD/JPY weekly stats of DXY/US10YT/USDJPY since 2016 till Oct 2021 here is the graph with DXY/US10YT/USDJPY. As we can see the price correlates better with treasury yields rather than DXY dollar index. Same happens with US10YT and DXY. 

USD/JPY with US10YT and DXY 

USD/JPY weekly stats of DXY/US10YT/USDJPY since 2016 till Oct 2021

The tables of Descriptive analysis and correlation of US dollar index, 10 year treasury yields and USD/JPY weekly close data. 

Descriptives

Descriptives
		DXY		Price		DGS10
N		301		301		301
Missing		0		0		0
Mean		95.5		109		1.94
Median		95.7		110		1.91
Standard deviation		3.17		3.47		0.707
Minimum		89.1		100		0.550
Maximum		103		121		3.21

Correlation Matrix

Correlation Matrix
				DXY		Price		DGS10
DXY		Pearson's r		—
		p-value		—
Price		Pearson's r		0.344		—
		p-value		< .001		—
DGS10		Pearson's r		0.084		0.536		—
		p-value		0.147		< .001		—

Bonus: correlation plot with density graph 

10-year Treasury yields importance today

10-year yields adds another 2 bps today to 1.59% and close to cross the 1.60% mark a technical area of last month breakout. My point of view is that bond sellers will go after profit taking, distribution and a mark-down activity. All that depends a lot on what the US nonfarm payrolls release will be later today.

Scatterplot of US10Y 2016 weekly till today correlated with weekly's close price: