7 May 2015
Rise in Treasury yields fail to support USD/JPY
FXStreet (Edinburgh) - The sell-off in the Treasuries continues, with yields rising to a fresh five month highs, despite which the USD/JPY pair fell to its 100-DMA at 119.23.
Treasury yields spike, USD does not
The 10-year Treasury yield in the US advanced 4.5 basis points to 2.285%, while the 30-year yield rose 3.1 basis points to 3.019%. However, the US dollar is once again being offered across the board, including the Japanese Yen. Moreover, the USD/JPY pair is known to have a direct correlation to the long-end yields in the US. Still, the pair was rejected earlier today at its 10-DMA at 119.51 after which it fell to its 100-DMA.
USD/JPY Technical Levels
The immediate support is seen at 119.00, under which losses could be extended to 118.48 (Apr. 30 low). On the flip side, a break above 119.52 (10-DMA) could see the pair re-test 119.80 (50-DMA).
Treasury yields spike, USD does not
The 10-year Treasury yield in the US advanced 4.5 basis points to 2.285%, while the 30-year yield rose 3.1 basis points to 3.019%. However, the US dollar is once again being offered across the board, including the Japanese Yen. Moreover, the USD/JPY pair is known to have a direct correlation to the long-end yields in the US. Still, the pair was rejected earlier today at its 10-DMA at 119.51 after which it fell to its 100-DMA.
USD/JPY Technical Levels
The immediate support is seen at 119.00, under which losses could be extended to 118.48 (Apr. 30 low). On the flip side, a break above 119.52 (10-DMA) could see the pair re-test 119.80 (50-DMA).