USD/JPY climbs to highest since Friday above 109.50 as USD reverses
- Dollar gains momentum across the board as US yields rebound.
- USD/JPY: from testing weekly lows to five-day highs in a few minutes.
The USD/JPY reached the highest level since Friday at 109.64, after rebounding sharply. The pair was testing the weekly low near 109.20 and reversed sharply as US bonds moderated their rally.
Dollar gains momentum as yields rebound ahead of CPI
The greenback hits fresh highs versus most of the G10 currencies during the American session. Still the euro and the yen are the top performers. The DXY rose from 89.81 to levels above 90.00, as US yields move off lows.
The US 10-year yield rose from 1.47% (lowest level since March) to 1.50% and boosted the US dollar. The move takes place as market participants await the CPI data to be released on Thursday.
Equity prices in the US are mixed. The Dow Jones drops 0.01% and the Nasdaq gains 0.12%. The yen is mostly lower in the market, after the USD/JPY rally.
From a technical perspective, if the USD/JPY breaks and holds clearly above 109.60 it would likely clear the way to more gains, targeting the next resistance at 109.85. Still, until US inflation data, moves are likely to remain vulnerable.
Technical levels
USD/JPY
Overview
Today last price109.61
Today Daily Change0.11
Today Daily Change %0.10
Today daily open109.5
Trends
Daily SMA20109.35
Daily SMA50109.19
Daily SMA100107.88
Daily SMA200106.23
Levels
Previous Daily High109.56
Previous Daily Low109.2
Previous Weekly High110.33
Previous Weekly Low109.33
Previous Monthly High110.2
Previous Monthly Low108.34
Daily Fibonacci 38.2%109.42
Daily Fibonacci 61.8%109.34
Daily Pivot Point S1109.28
Daily Pivot Point S2109.06
Daily Pivot Point S3108.93
Daily Pivot Point R1109.64
Daily Pivot Point R2109.78
Daily Pivot Point R3110
Author
Matías Salord
FXStreet
Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.
