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24 Dec 2014
USD/JPY declines with US treasury yields
FXStreet (Mumbai) - The USD/JPY pair has weakened today tracking a minor fall in the yields across the short-end and the long-end of the treasury market curve.
The pair traded 0.28% lower at 120.35 at the time of writing, compared to the previous session’s close of 120.69. The weakness in largely driven by the slight weakness seen in the US treasury yields. The 10-yr yield is down 1.4 basis points to 2.243%, while the 2-yr yield is down 1.2 basis points to 0.724%.
The Yen fell yesterday as treasury yields rose, especially the yields at the short-end rose to highest since April 2011 levels on a strong US third quarter GDP report.
USD/JPY Technical Levels
The immediate support is located at 119.90 (5-DMA), under which losses could be extended to 119.57 levels. Meanwhile, resistance is seen at 120.84 and 121.02 levels.
The pair traded 0.28% lower at 120.35 at the time of writing, compared to the previous session’s close of 120.69. The weakness in largely driven by the slight weakness seen in the US treasury yields. The 10-yr yield is down 1.4 basis points to 2.243%, while the 2-yr yield is down 1.2 basis points to 0.724%.
The Yen fell yesterday as treasury yields rose, especially the yields at the short-end rose to highest since April 2011 levels on a strong US third quarter GDP report.
USD/JPY Technical Levels
The immediate support is located at 119.90 (5-DMA), under which losses could be extended to 119.57 levels. Meanwhile, resistance is seen at 120.84 and 121.02 levels.