Yen stays firm on the session as Treasury yields slip to lowest level since April

Technical Analysis

Author: Justin Low | usdjpy

USD/JPY pressured to session lows of 107.73 on the day

The yen is keeping firmer in general as we are seeing a bid in Treasuries with 10-year yields seen falling to 0.569%, its lowest level since 22 April. US 30-year yields have also fallen to 1.253%, its lowest level since 15 May, in trading today.
For bank trade ideas, check out eFX Plus

USGG10YR
The move in yields isn't quite breaking the range seen since April with lows around 0.539% to 0.566% a key region to watch in that regard.

Much like how the melt up in yields seen at the start of June - which became a fake out - saw USD/JPY break above its key daily moving averages in a move to 109.85, before falling back, be mindful of a possible melt to the downside if the range breaks.

For USD/JPY, topside is limited by the 100-day moving average in recent days with support seen closer around the region of 106.40-50 but the key region to watch will be near the 106.00 handle where we saw lows posted in May and on 23 June:

USD/JPY D1 10-07

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose