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USD/JPY
US Dollar well supported by rising Treasury yields with 111.00 in sight
The US Dollar is trading little changed on the upside at around 110.80 against the Japanese Yen as the rising US benchmark Treasury yields support in across the board. Technically next hurdle for USD/JPY is the big figure of 111.00.
Momentum beyond the 111.00 handle is likely to get extended towards the 111.25-30 supply zone, above which the pair seems all set to extend its bullish trajectory in the near-term. On the flip side, any meaningful retracement is likely to find support near the 110.40 area and is followed by the very important 200-day SMA support near the 110.15 region.
Good Luck!!!
US Dollar well supported by rising Treasury yields with 111.00 in sight
The US Dollar is trading little changed on the upside at around 110.80 against the Japanese Yen as the rising US benchmark Treasury yields support in across the board. Technically next hurdle for USD/JPY is the big figure of 111.00.
Momentum beyond the 111.00 handle is likely to get extended towards the 111.25-30 supply zone, above which the pair seems all set to extend its bullish trajectory in the near-term. On the flip side, any meaningful retracement is likely to find support near the 110.40 area and is followed by the very important 200-day SMA support near the 110.15 region.
Good Luck!!!
