USD/JPY gains 25 pips as S&P 500 futures and treasury yields rise


  • USD/JPY seems to have picked up a bid in response to the uptick in the Treasury yields. 
  • The Yen is losing ground amid gains in the S&P 500 futures.  

USD/JPY has gained 25 pips in the last couple of hours, possibly tracking the rise in the futures on the S&P 500 and the US treasury yields.

As of writing, the pair is trading at 106.19, having hit a high of 106.27 a few minutes before press time. The pair traded at 106.02 in early Asia.

Treasury yields rise

The yield on the US 10-year treasury note is currently trading at 1.537%, up 7 basis points from the record low of 1.474% hit on Thursday.

Meanwhile, the two-year yield is trading at 1.512% at press time, having hit a record low of 1.46% on Thursday.

The recovery in Treasury yields seems to have put a bid under the USD.

Meanwhile, the anti-risk Japanese Yen is on the defensive seemingly due to the 10-year Japanese government bond yield's drop to three-year lows and the 0.57% rise in the S&P 500 futures.

Looking forward, the yields may continue to rise, keeping the USD/JPY pair better bid. After all, an above-forecast US data released on Thursday assured investors that Americans are spending enough to keep the economy from falling into a recession.

Technical levels

USD/JPY

Overview
Today last price 106.19
Today Daily Change 0.08
Today Daily Change % 0.08
Today daily open 106.11
 
Trends
Daily SMA20 107.2
Daily SMA50 107.73
Daily SMA100 109.17
Daily SMA200 110.12
Levels
Previous Daily High 106.78
Previous Daily Low 105.7
Previous Weekly High 107.09
Previous Weekly Low 105.26
Previous Monthly High 109.01
Previous Monthly Low 107.21
Daily Fibonacci 38.2% 106.37
Daily Fibonacci 61.8% 106.12
Daily Pivot Point S1 105.62
Daily Pivot Point S2 105.12
Daily Pivot Point S3 104.53
Daily Pivot Point R1 106.7
Daily Pivot Point R2 107.28
Daily Pivot Point R3 107.78

 

 

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