Back
11 Mar 2015
USD/JPY makes another attempt at 121.50
FXStreet (Mumbai) - The USD/JPY pair is making another attempt to rise above 121.50, after the failure of the previous attempt had pushed the pair to 121.13 levels. The pair currently trades at 121.41 levels.
USD/JPY gains despite losses in the treasury yields
The Yen weakened despite the weakness in the US Treasury yields. At the moment, the 10-year yield is down 1.8 basis points at 2.11%. Still, the pair rose back to trade closer to 121.50 levels. Moreover, the 10-year yields could have dropped due to increased foreign demand for Treasuries amid falling yields across Europe.
The pair could extend gains if the US equities see “risk-on’ trading. The major European equities are already trading higher by 0.55 to 1.00%, which lends support to the pair.
USD/JPY Technical Levels
The immediate resistance is seen at 121.50, above which the pair could rise to 122.00 levels. On the other hand, a break below 120.90, could weaken the pair to 120.00 levels.
USD/JPY gains despite losses in the treasury yields
The Yen weakened despite the weakness in the US Treasury yields. At the moment, the 10-year yield is down 1.8 basis points at 2.11%. Still, the pair rose back to trade closer to 121.50 levels. Moreover, the 10-year yields could have dropped due to increased foreign demand for Treasuries amid falling yields across Europe.
The pair could extend gains if the US equities see “risk-on’ trading. The major European equities are already trading higher by 0.55 to 1.00%, which lends support to the pair.
USD/JPY Technical Levels
The immediate resistance is seen at 121.50, above which the pair could rise to 122.00 levels. On the other hand, a break below 120.90, could weaken the pair to 120.00 levels.