USD/JPY hits levels above 140.00 for the first time since 1998

US Dollar rises sharply across the board on higher yields, and upbeat US data.
Japanese yen manages to hold steady versus other currencies amid risk aversion.
USD/JPY holds bullish tone, but unable to consolidate above 140.00.

Matías Salord FXStreet

The USD/JPY reached levels above 140.00 for the first time since August 1998. The pair peaked at 140.12 and then pulled back to 139.70, amid an increase in volatility. A stronger US dollar across the board boosted the pair.

Another upbeat economic report from the US triggered more losses in Treasuries and boosted the dollar. The US Dollar Index is at 109.78, a level not seen in 20 years.

The US 10-year yield rose to 3.28%, the highest since June. The last report was the ISM Manufacturing which remained at 52.8 in August against expectations of a decline to 52. The Employment Index of the report jumped from 49 to 54.4. On Friday, the US official employment report is due, with market consensus suggesting an increase of 300K in payrolls.

Despite the rally in USD/JPY to fresh multi-decade highs the Japanese yen strengthened versus other currencies amid risk aversion. In Wall Street, the Dow Jones is falling by 0.75% and the Nasdaq drops by 1.70%.

Technical levels

USD/JPY

Overview
Today last price	139.79
Today Daily Change	0.83
Today Daily Change %	0.60
Today daily open	138.96

Trends
Daily SMA20	135.75
Daily SMA50	135.94
Daily SMA100	133.05
Daily SMA200	124.72

Levels
Previous Daily High	139.01
Previous Daily Low	138.27
Previous Weekly High	137.76
Previous Weekly Low	135.81
Previous Monthly High	139.08
Previous Monthly Low	130.4
Daily Fibonacci 38.2%	138.73
Daily Fibonacci 61.8%	138.55
Daily Pivot Point S1	138.49
Daily Pivot Point S2	138.01
Daily Pivot Point S3	137.75
Daily Pivot Point R1	139.22
Daily Pivot Point R2	139.48
Daily Pivot Point R3	139.96

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.

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