100 day MA at 2.2371%. High today reaches 2.2322% so far.
Be aware. The 10 year yield is moving up to test the 100 day MA at 2.2371%. The high yield today reached 2.2322% so far.
The last low yield reached 2.1044%. That level tested a lower trend line (see red circle 3). Since the bottom, the yield has increased 7 straight days (today is the 7th above 2.203%).
A move above the 100 day MA will still have other hurdles to get to and through. The 38.2% of the move down from the March high comes in at 2.2487%. The 50% comes in at 2.3211% and the 200 week MA comes in at 2.3314%. The yield has been above the 100 day MA in July and August but could not sustain the push higher.
Right now, there is topside resistance at the 100 day MA. If it holds, the run up in pairs like the USDJPY may stall its run. The run up in yields has corresponded with a run up in the USDJPY as well (see chart below).
