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27 Mar 2015
USD/JPY drops below 119.00
FXStreet (Mumbai) - The USD/JPY pair fell below 119.00 levels as the treasury yields hit fresh session lows after the release of a weaker-than-expected US data.
Yen gains along with Treasuries
The US Treasury prices rose, thereby pushing the yields to fresh lows, which helped the Japanese Yen strengthen despite of an uptick in the stock markets. The 10-year yield hit a low of 1.954%, before recovering to trade at 1.956; down 5.6 basis points for the day. Meanwhile, the 2-year yield, which mimics the short-term interest rate expectations, fell to a low of 0.583%; before recovering to 0.587; down 3.5 basis points for the day. Consequently, the USD/JPY pair fell to a session low of 118.92.
USD/JPY Technical Levels
At the moment, the pair is trading lower at 118.96. The immediate support is located at 118.61, under which losses could be extended to 118.31. On the flip side, resistance is seen at 119.22 (100-DMA), above which gains could be extended to 119.46 (50-DMA).
Yen gains along with Treasuries
The US Treasury prices rose, thereby pushing the yields to fresh lows, which helped the Japanese Yen strengthen despite of an uptick in the stock markets. The 10-year yield hit a low of 1.954%, before recovering to trade at 1.956; down 5.6 basis points for the day. Meanwhile, the 2-year yield, which mimics the short-term interest rate expectations, fell to a low of 0.583%; before recovering to 0.587; down 3.5 basis points for the day. Consequently, the USD/JPY pair fell to a session low of 118.92.
USD/JPY Technical Levels
At the moment, the pair is trading lower at 118.96. The immediate support is located at 118.61, under which losses could be extended to 118.31. On the flip side, resistance is seen at 119.22 (100-DMA), above which gains could be extended to 119.46 (50-DMA).