29 Jan 2015
Treasury yields pull up USD/JPY pair
FXStreet (Mumbai) - The USD/JPY pair is making another run at 118.00 levels, tracking rise in the US Treasury yields.
10-year Treasury inches higher
The 10-year yield in the US recovered from the low of 1.714% to trade 1.6 basis points higher at 1.745%. The rise in the Treasury yield made sure the USD/JPY pair bounced from 117.60 levels to trade at the current level of 117.90; up 0.28% for the day.
The pair had declined to a low of 117.24 levels yesterday after the Fed statement indicated further room for fall in inflation in the near term. Moreover, the 10-year yields had slumped to 1.70%, which strengthened the Yen.
USD/JPY Technical Levels
The immediate resistance is seen at 118.25, above which gains could be extended to 118.97 levels. On the flip side, support is seen at 117.50 and 117.24 levels.
10-year Treasury inches higher
The 10-year yield in the US recovered from the low of 1.714% to trade 1.6 basis points higher at 1.745%. The rise in the Treasury yield made sure the USD/JPY pair bounced from 117.60 levels to trade at the current level of 117.90; up 0.28% for the day.
The pair had declined to a low of 117.24 levels yesterday after the Fed statement indicated further room for fall in inflation in the near term. Moreover, the 10-year yields had slumped to 1.70%, which strengthened the Yen.
USD/JPY Technical Levels
The immediate resistance is seen at 118.25, above which gains could be extended to 118.97 levels. On the flip side, support is seen at 117.50 and 117.24 levels.