Back
11 Mar 2015
USD/JPY struggles to extend gains
FXStreet (Mumbai) - The USD/JPY pair clocked a high of 120.60, post which it fell back to 121.40 despite the uptick in the US Treasury yields. Still, the pair is trading 0.30% higher for the day, after having recovered from the low of 1210.00 seen during the Asian session.
Treasury yields recover, USD/JPY stalls
The pair struggles around 121.50 even though the treasury yields recovered losses. The 10-year yield in the US currently trades 1.9 basis points (bps) higher at 2.147%, while the 2-year yield currently trades 2.4 bps higher at 0.708%. Moreover, the yields had weakened earlier today as Treasuries saw rise in demand after the yields across the Eurozone hit record lows. The move in the USD/JPY pair from 121.00 to 121.40 earlier today lacked support from the Treasury yields.
USD/JPY Technical Levels
The immediate resistance is seen at 121.60, above which gains could be extended to 122.00 levels. On the flip side, a break below 121.40 could see the pair re-test 121.00 levels.
Treasury yields recover, USD/JPY stalls
The pair struggles around 121.50 even though the treasury yields recovered losses. The 10-year yield in the US currently trades 1.9 basis points (bps) higher at 2.147%, while the 2-year yield currently trades 2.4 bps higher at 0.708%. Moreover, the yields had weakened earlier today as Treasuries saw rise in demand after the yields across the Eurozone hit record lows. The move in the USD/JPY pair from 121.00 to 121.40 earlier today lacked support from the Treasury yields.
USD/JPY Technical Levels
The immediate resistance is seen at 121.60, above which gains could be extended to 122.00 levels. On the flip side, a break below 121.40 could see the pair re-test 121.00 levels.