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23 Feb 2015
USD/JPY dips below 119.00
FXStreet (Mumbai) - The USD/JPY pair dipped below 119.00 levels, after having faced rejection near 119.40 levels earlier today. The pair failed to respond to a sharp rise in the Chicago Fed national activity index reported just now.
USD/JPY falls along with Treasury yields
The pair fell below the hourly 100-MA located at 119.02 levels, tracking the fresh signs of weakness in the US Treasury yields. At the moment, the 10-year yield is down 3.7 basis points at 2.096%. The yield rose to a high of 2.136% earlier today. Meanwhile, the Chicago Fed national activity index rose came-in at 0.13 in Jan from -0.07 in December. The upbeat data failed to have any sizable impact on the Us treasury yields and the USD/JPY pair.
Investors shall now shift their attention to the existing home sales and Dallas Fed manufacturing index due for release later today.
USD/JPY Technical Levels
The pair has an immediate resistance located at 119.40, above which gains could be capped at 119.68 levels. On the flip side, support is seen at 118.81 and 118.42 levels.
USD/JPY falls along with Treasury yields
The pair fell below the hourly 100-MA located at 119.02 levels, tracking the fresh signs of weakness in the US Treasury yields. At the moment, the 10-year yield is down 3.7 basis points at 2.096%. The yield rose to a high of 2.136% earlier today. Meanwhile, the Chicago Fed national activity index rose came-in at 0.13 in Jan from -0.07 in December. The upbeat data failed to have any sizable impact on the Us treasury yields and the USD/JPY pair.
Investors shall now shift their attention to the existing home sales and Dallas Fed manufacturing index due for release later today.
USD/JPY Technical Levels
The pair has an immediate resistance located at 119.40, above which gains could be capped at 119.68 levels. On the flip side, support is seen at 118.81 and 118.42 levels.