Back
16 Jul 2015
USD/JPY struggling to sustain above 124.00, tracks treasury yields
FXStreet (Mumbai) - The USD/JPY pair is struggling to sustain above 124.00 levels as the pair is tracking the 10-year treasury yields; which have pared gains.
Rising US rates weaken Yen
The 10-year Treasury yield in the US rose to a high of 2.392%, thereby pushing the USD/JPY pair to an intraday high of 124.05. However, the pair is struggling to extend gains above 124.00 as the 10-year yield has turned slightly lower from the high of 2.392% to trade at 2.374%.
Ahead in the day, the second round of Yellen testimony and the US weekly jobless claims could influence the treasury yields and the USD/JPY pair.
USD/JPY Technical Levels
The immediate resistance is seen at 124.37, followed by another resistance at 124.56. On the flip side, support is seen at 123.77 and 123.13.
Rising US rates weaken Yen
The 10-year Treasury yield in the US rose to a high of 2.392%, thereby pushing the USD/JPY pair to an intraday high of 124.05. However, the pair is struggling to extend gains above 124.00 as the 10-year yield has turned slightly lower from the high of 2.392% to trade at 2.374%.
Ahead in the day, the second round of Yellen testimony and the US weekly jobless claims could influence the treasury yields and the USD/JPY pair.
USD/JPY Technical Levels
The immediate resistance is seen at 124.37, followed by another resistance at 124.56. On the flip side, support is seen at 123.77 and 123.13.