US yields are moving higher/trading at highs and that is helping the USDJPY in the process.
- 2 year yield 3.36%, up 5.6 basis points. The high yield for the year reached 3.454% reached on June 13
- 5 year yield 3.223%, 5.5 basis points. The US treasury auction off five year notes at 1 PM ET
- 10 year yield 3.10%, up 5.0 basis points. The yield moved above its 100 hour moving average at the end of last week. That moving average currently comes in at 2.970%
- 30 year yield 3.30%, +4.2 basis points
For the USDJPY, the pair, has move back above its 100 hour moving average currently at 136.755. The next target area comes between 137.37 and 137.456. Move above that and the swing high from yesterday at 137.703 would be targeted. There is a swing area 137.869 to 137.94 as the next target to get to and through.
Yesterday, the sellers another shot. It took the price back below the 100 hour moving average for the first time since August 16, but the low fell short of a swing area below between 135.295 and 135.575 the 30.2% retracement of the move up from the August 11 low is also within that area. The rising 200 hour moving average is now sitting in that area as well.
Going forward it would take a move back below the 100 hour moving average to below that in the aforementioned swing area, 38.2% retracement, and 200 hour moving average would become the next key focus area.
