USD/JPY looks to regain 111.50 amid rising treasury yields
|The USD/JPY pair paused its eight-day losing streak and now attempts a minor-rebound in Asia this Friday, deriving support from broad based US dollar strength.
The spot bounces-off a brief dip below 111 handle and aims to regain 111.50 handle as risk-on remains at full steam amid clarity provided on the House vote, which boosted the treasury yields and greenback across the board.
Moreover, a relief-rally seen in the Japanese stocks also aid the recovery in USD/JPY. However, over the last hour, the major is seen facing minor-hurdles amid reports of North Korea preparing for another nuclear test end of this month, which slightly underpinned the safe-haven bids for the yen.
Markets now await the US durable goods data and Fedspeaks lined up for release later on Friday for fresh impetus on the prices.
USD/JPY Technical levels to watch
The major finds immediate resistance at 111.58/59 (Mar 23 high/ 5-DMA). A break above the last, the major could test 112.02 (classic R2/ Fib R3) and 112.48/50 (10-DMA/ psychological levels) beyond the last. While to the downside, the immediate support is seen at 111 (round number) next at 110.73 (multi-week low) and below that at 110.23 (week ended Nov 20 lows).
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