7 Apr 2015
USD/JPY rises to 50-DMA
FXStreet (Mumbai) - A bid wave on the US dollar in the early European session pushed the USD/JPY higher to its 50-DMA located at 119.76 levels.
Post-NFP payrolls losses erased
The pair has erased the losses it suffered – 119.70-118.70 – after the release of a disappointing non-farm payrolls report on Friday. The Treasury yields in the US also made a partial comeback on Monday, with the 10-year yield recovering from the low of 1.826% to 1.897%. Consequently, the Yen weakened, although the gains seen today lack support from the US Treasury yields.
With no major economic data due out of the US today, we are likely to see the pair take cues from the broader market sentiment.
USD/JPY Technical Levels
The immediate resistance is seen at 119.87, above which the pair could rise to 120.46. On the flip side, a break below 119.66, could drive the pair lower to 119.34 (5-DMA).
Post-NFP payrolls losses erased
The pair has erased the losses it suffered – 119.70-118.70 – after the release of a disappointing non-farm payrolls report on Friday. The Treasury yields in the US also made a partial comeback on Monday, with the 10-year yield recovering from the low of 1.826% to 1.897%. Consequently, the Yen weakened, although the gains seen today lack support from the US Treasury yields.
With no major economic data due out of the US today, we are likely to see the pair take cues from the broader market sentiment.
USD/JPY Technical Levels
The immediate resistance is seen at 119.87, above which the pair could rise to 120.46. On the flip side, a break below 119.66, could drive the pair lower to 119.34 (5-DMA).