USD/JPY climbs to mid-108s as 10-year US T-bond yield erases losses

  • 10-year US Treasury bond yield turns flat on the day in the NA session.
  • Wall Street stays in the negative territory but pulls away from lows.
  • US Dollar Index extends daily rally to a fresh 10-day high.

Today's upbeat macroeconomic data releases from the United States provided a boost to the greenback and allowed the USD/JPY pair to advance to a session top of 108.50. As of writing, the pair was trading at 108.45, adding 0.06% on a daily basis.

The data published by the U.S. Census Bureau today revealed that retail sales increased by 0.5% on a monthly basis in May. Furthermore, the Federal Reserve in its monthly publication reported that industrial production and manufacturing production expanded by 0.4% and 0.2%, respectively, in May following April's contraction. The last data of the day showed that the University of Michigan's Consumer Confidence Index edged down to 97.9 in June's preliminary reading from 100 in May, which had little to no impact on the greenback's upbeat performance. At the moment, the US Dollar Index is at its highest level in 10-day at 97.50, adding 0.5% on the day.

Meanwhile, today's data also hurt the probability of the Fed signalling a near-term rate cut in next week's meeting and helped the 10-year US T-bond yield recovered its daily losses to turn flat on the day in the last hour and provided an additional boost to the pair. Additionally, following a negative start to the day, major equity indexes in the U.S. pulled away from lows to suggest that risk sentiment is turning positive and making it difficult for safe-havens to find demand.

Technical levels to watch for


Today last price 108.43
Today Daily Change 0.04
Today Daily Change % 0.04
Today daily open 108.39
Daily SMA20 109.07
Daily SMA50 110.32
Daily SMA100 110.51
Daily SMA200 111.25
Previous Daily High 108.54
Previous Daily Low 108.16
Previous Weekly High 108.62
Previous Weekly Low 107.81
Previous Monthly High 111.71
Previous Monthly Low 108.23
Daily Fibonacci 38.2% 108.31
Daily Fibonacci 61.8% 108.4
Daily Pivot Point S1 108.19
Daily Pivot Point S2 107.99
Daily Pivot Point S3 107.81
Daily Pivot Point R1 108.56
Daily Pivot Point R2 108.74
Daily Pivot Point R3 108.94



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

EUR/USD hits highest since March amid US protests, European reopening

EUR/USD has jumped above 1.1150, trading at the highest since March. Protests in the US are grabbing the headlines and marginally supporting the dollar. European countries continue reopening their economies amid falling coronavirus statistics. 


GBP/USD resumes rally amid Brexit optimism, dollar weakness

GBP/USD is trading above 1.2550, extending its gains. Reports about British readiness to compromise in Brexit talks, conditioned on EU concessions, is helping boost the pound. US protests are eyed.


Bitcoin is three steps away from $14000

Bitcoin joins the list of bullish breakouts and leaves the relative highs at $14000 as a clear target in the short term. Ethereum continues to gain market share and sets the price level of $300 as a goal in the short term.

Read more

Gold trades with modest losses around $1735 level, downside seems limited

Gold traded with a mild negative bias through the early European session and was last seen hovering near the lower end of its daily range, around the $1735 region.

Gold News

WTI sits at three-month highs near $36.50 ahead of Russia’s decision, API

WTI (July futures on Nymex) broke its bullish consolidative phase to the upside in the European session and clinched fresh three-month highs at 36.48.

Oil News