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29 Jul 2015
USD/JPY turns positive, treasury yields tick higher
FXStreet (Mumbai) - The USD/JPY pair recovered from the low of 123.40 to trade marginally positive at 123.60 as the long duration treasury yields strengthened moderately.
USD strengthens across the board
The USD has strengthened across the board in the early European session as the 10-year Treasury yields jumped 1.1 basis points higher at 2.261%. With no major economic data due for release in the European session, the investors are likely to remain focused on the FOMC policy statement.
The USD/JPY pair is likely to move in line with the Treasury yields and the sentiment in the major equity markets. Ahead of the FOMC statement, the new home sales figure in the US could also influence the pair.
USD/JPY Technical Levels
The immediate resistance is seen at 123.83 (July 27 high), above which gains could be extended to 124.18 (July 23 high). On the other hand, support is seen at 123.34 (50-DMA) and 123.00 (July 27 low).
USD strengthens across the board
The USD has strengthened across the board in the early European session as the 10-year Treasury yields jumped 1.1 basis points higher at 2.261%. With no major economic data due for release in the European session, the investors are likely to remain focused on the FOMC policy statement.
The USD/JPY pair is likely to move in line with the Treasury yields and the sentiment in the major equity markets. Ahead of the FOMC statement, the new home sales figure in the US could also influence the pair.
USD/JPY Technical Levels
The immediate resistance is seen at 123.83 (July 27 high), above which gains could be extended to 124.18 (July 23 high). On the other hand, support is seen at 123.34 (50-DMA) and 123.00 (July 27 low).