17 Jun 2015
USD/JPY nears 124.00 as Treasury yields rise
FXStreet (Mumbai) - The bid tone on the USD strengthened on the back of a rise in the Treasury yields, taking the USD/JPY pair higher to 123.96 levels.
USD/JPY- Trades above hourly 200-MA
The USD/JPY pair currently trades above its hourly 200-MA located at 123.88. Moreover, the USD/JPY pair has remained shielded to the sharp weakness in the USD against the GBP due to the rise in the treasury yields.
The 10-year treasury yields have erased early losses to trade 1.7 basis points higher to 2.333%, while the 30-year yield rose 1.2 basis points to 3.064%. The yields had dipped earlier today, providing support to the Yen.
USD/JPY Technical Levels
The immediate resistance is located at 124.00, above which gains could be extended to 124.60. On the other hand, break below 123.88 (hourly 200-MA) could push the pair down to 123.47 (hourly 50-MA).
USD/JPY- Trades above hourly 200-MA
The USD/JPY pair currently trades above its hourly 200-MA located at 123.88. Moreover, the USD/JPY pair has remained shielded to the sharp weakness in the USD against the GBP due to the rise in the treasury yields.
The 10-year treasury yields have erased early losses to trade 1.7 basis points higher to 2.333%, while the 30-year yield rose 1.2 basis points to 3.064%. The yields had dipped earlier today, providing support to the Yen.
USD/JPY Technical Levels
The immediate resistance is located at 124.00, above which gains could be extended to 124.60. On the other hand, break below 123.88 (hourly 200-MA) could push the pair down to 123.47 (hourly 50-MA).