USD/JPY consolidates above 114.30 amid higher US Treasury yields

USD/JPY trades virtually unchanged on Wednesday in the initial Asia session.
The US dollar trades below 94.00 despite higher US T-bond yields.
Mixed Fed’s officials and data weigh on the US dollar.

Rekha Chauhan Independent Analyst

USD/JPY remains muted on Thursday after testing the fresh four-year high in the previous sessions. The pair stays in a relatively narrow price band, after hovering near the daily highs in the US session. At the time of writing, USD/JPY is trading at 114.37, up 0.02% for the day.

The US benchmark 10-year Treasury bond yields trade at 1.65%, the highest in the two years. Investors continue to anticipate the Fed’s tapering next month amid rising inflationary pressure and soaring energy prices.

US Cleveland Fed’s President Loretta Mester remained bullish on Fed’s tapering but refrained from the interest rate hike timeline.

On the other hand, the Japanese yen surrenders its gains on improved risk sentiment. It is worth noting that, S&P 500 Future is trading at 4,524, up 0.02% for the day.

As for now, traders are waiting for the US Initial Jobless Claims and Fed’s Offical’s speeches to gauge the market sentiment.

USD/JPY additional levels

Overview
Today last price	114.39
Today Daily Change	0.01
Today Daily Change %	0.01
Today daily open	114.38

Trends
Daily SMA20	112.1
Daily SMA50	110.73
Daily SMA100	110.44
Daily SMA200	109.02

Levels
Previous Daily High	114.4
Previous Daily Low	113.88
Previous Weekly High	114.46
Previous Weekly Low	112.16
Previous Monthly High	112.08
Previous Monthly Low	109.11
Daily Fibonacci 38.2%	114.2
Daily Fibonacci 61.8%	114.08
Daily Pivot Point S1	114.04
Daily Pivot Point S2	113.7
Daily Pivot Point S3	113.52
Daily Pivot Point R1	114.56
Daily Pivot Point R2	114.74
Daily Pivot Point R3	115.07

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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