USD/JPY: gains limited by subdued T-yields
|USD/JPY Current price: 110.24
The USD/JPY pair recovers from a daily low of 109.66 achieved during the Asian session, unable however, to extend gains, as equities and yields remain subdued, with the first trying to remain afloat, and yields barely recovering from Wednesday's slump. US better-than-expected minor macroeconomic figures are also helping the pair, as weekly unemployment claims fell to 232K for the week ending August 14th, while the Philadelphia Fed manufacturing index came in at 18.9, beating market's forecast of 18.5. The upward potential is limited according to technical readings in the 4 hours chart, as the price is unable to advance beyond a bearish 100 SMA, a few pips above the current level, while the Momentum indicator is stuck around its mid-line. The RSI aims north around its mid-line, but seems not enough at this point. Upcoming direction will depend on US equities and bonds, and how both react after digesting Wednesday's events.
Support levels: 110.00 109.70 109.20
Resistance levels: 110.35 110.80 111.05
View Live Chart for the USD/JPY
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