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6 Jan 2015
USD/JPY back below 120.00 levels
FXStreet (Mumbai) - The USD/JPY pair is back below 120.00 levels after the 10-yr Treasury yield in the US fell below 2.00% for the first time since October 2014.
The pair currently trades 0.60% lower for the day at 118.91 levels, after having failed to sustain gains above 119.00 levels. The Yen rose from the low of 119.20 per USD seen at the onset of the European session after the 10-year Treasury yield fell to a low of 1.98%. On top of that, the risk aversion in the major European equities further helped Yen gain strength. The London’s Ftse index has weakened 0.96%, while the Germany’s Dax is trading lackluster.
USD/JPY Technical Levels
The immediate support is seen at 118.70, under which losses could be extended to 118.00 levels. Meanwhile, resistance is seen at 119.20 and 119.50 levels.
The pair currently trades 0.60% lower for the day at 118.91 levels, after having failed to sustain gains above 119.00 levels. The Yen rose from the low of 119.20 per USD seen at the onset of the European session after the 10-year Treasury yield fell to a low of 1.98%. On top of that, the risk aversion in the major European equities further helped Yen gain strength. The London’s Ftse index has weakened 0.96%, while the Germany’s Dax is trading lackluster.
USD/JPY Technical Levels
The immediate support is seen at 118.70, under which losses could be extended to 118.00 levels. Meanwhile, resistance is seen at 119.20 and 119.50 levels.