Technical Analysis

USD/JPY nears late-June high as Treasury yields jump

USD/JPY approaches resistance

The US dollar is rallying after the strong jobs number. USD/JPY is pressing up against the late-June high and could run stops on a break above 108.53.

Cable also just hit a fresh low at 1.2501, breaking the June low.

Here’s a chart of the US 2-year yield and it looks like it’s formed a base and is trying to reverse. However the big line ins the sand is at 1.94% and it’s going to need some hawkish commentary (or less dovish) from Powell or other Fed officials next week to get there.

US 2s


Articles You May Like

Another sign of the madness in the bond market
EUR/USD technical analysis: Euro under pressure near 1.1215 ahead of Fed’s Powell speech
WTI futures settle the day (and for the week) up $0.01 at $60.21
AUD/JPY technical analysis: Repeated failures to cross 50-day EMA highlights 4-week old support-line
US Dollar Price Action Setups: EUR/USD, GBP/USD, AUD/USD and USD/CAD

Leave a Reply

Your email address will not be published. Required fields are marked *