3 Feb 2015
USD/JPY recovers with Treasury yields
FXStreet (Mumbai) - The USD/JPY pair has recovered most of its losses ahead of the US session, tracking the recovery in the US 10-year Treasury yields.
Treasury yields rise
The 10-year Treasury yield is up 5.7 basis points at 1.73% at the time of writing. The yields have recovered along with a sharp rally in Crude prices. Moreover, the falling energy prices had pushed yields on the long duration bonds lower in anticipation of falling inflationary pressures. Thus, the recovery in Crude is pushing the treasury yields higher.
Consequently, the USD/JPY pair has recovered from the low of 116.86 seen earlier today to trade at 117.43 levels.
USD/JPY Technical Levels
The immediate resistance is seen at 117.56 (5-DMA) and 117.86 levels. On the flip side, support is seen at 117.16 and 116.91 levels.
Treasury yields rise
The 10-year Treasury yield is up 5.7 basis points at 1.73% at the time of writing. The yields have recovered along with a sharp rally in Crude prices. Moreover, the falling energy prices had pushed yields on the long duration bonds lower in anticipation of falling inflationary pressures. Thus, the recovery in Crude is pushing the treasury yields higher.
Consequently, the USD/JPY pair has recovered from the low of 116.86 seen earlier today to trade at 117.43 levels.
USD/JPY Technical Levels
The immediate resistance is seen at 117.56 (5-DMA) and 117.86 levels. On the flip side, support is seen at 117.16 and 116.91 levels.