Forex Orders


USD/JPY trades near the highs for the day as US 10-year yields hold above 3%

The story so far has been that of yields, and with 10-year yields staying above the 3% threshold it’s helping to keep the dollar bid so far in the session. USD/JPY is trading just above 109.90 currently, and looks set for a move towards the 110.00 level again.

Previous two attempts at the figure level stalled as there is also resistance in the form of the 50.0 retracement level @ 109.93 so this is a pivotal test for the pair. However, clearing the figure level isn’t a win just yet for buyers as there is also the 200-day MA (blue line) lurking nearby @ 110.18. But psychologically, breaking and holding above the figure level would be key for buyers to at least take encouragement in a bid to bring up the pair.

If we are looking for any breakouts today, do keep an eye out for yields too.



Source link

Articles You May Like

90% of traders lose money… So how to be in the top 10%?
FX option expiries to take note of for Wednesday 16 May 2018
Buyers looking to build on momentum to crack 150.00
The US small cap Russell 2000 hits an all time high
Gold trades near the year’s lows, what levels to eye?

Leave a Reply

Your email address will not be published.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