30 Mar 2015
USD/JPY rises to fresh session high
FXStreet (Mumbai) - The USD/JPY pair rose to a fresh session high of 120.03 after the data in the US showed both personal spending and expenditure ticked up in February.
Gains could be capped by weak yields
The pair edged slightly lower to 119.94 levels as the treasury yields weakened post the release of the income and spending report in the Us. The 10-year yield has erased its entire gains to trade largely unchanged at 1.949%. Meanwhile, the 2-year yield is down almost one basis points to 0.575%. The pair could erase its gains in case the 10-year yield falls into losses.
The pair could also be influenced by the Pending home sales report and the Dallas Fed manufacturing index in the US.
USD/JPY Technical Levels
The immediate support is seen at 119.83 (hourly 200-MA), under which losses could be extended to 119.53 (50-DMA). On the flip side, a break above 120.00 could push the pair higher to 120.40 levels.
Gains could be capped by weak yields
The pair edged slightly lower to 119.94 levels as the treasury yields weakened post the release of the income and spending report in the Us. The 10-year yield has erased its entire gains to trade largely unchanged at 1.949%. Meanwhile, the 2-year yield is down almost one basis points to 0.575%. The pair could erase its gains in case the 10-year yield falls into losses.
The pair could also be influenced by the Pending home sales report and the Dallas Fed manufacturing index in the US.
USD/JPY Technical Levels
The immediate support is seen at 119.83 (hourly 200-MA), under which losses could be extended to 119.53 (50-DMA). On the flip side, a break above 120.00 could push the pair higher to 120.40 levels.