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10 Apr 2015
USD/JPY trades around 120.50
FXStreet (Mumbai) - The USD/JPY pair is trading in the sideways manner around 120.50 levels, tracking the lackluster action in the US Treasury yields.
Poised for a weekly gain
The pair appears poised to end the week higher, thereby ending the three-week losing streak. The rebound in the US Treasury yields over the week has ensured the pair rose from 118.78 to 120.72 levels. The 10-year yield in the US recovered from 1.802% to a high of 1.967% in the previous session.
Given the thin economic calendar in the US today, not much action is expected, which could help the pair consolidate on its gains.
USD/JPY Technical Levels
The immediate resistance is located at 120.72, above which gains could be extended to 121.26. On the flip side, support is located at 120.34, under which the pair could dip to its 50-DMA at 119.83.
Poised for a weekly gain
The pair appears poised to end the week higher, thereby ending the three-week losing streak. The rebound in the US Treasury yields over the week has ensured the pair rose from 118.78 to 120.72 levels. The 10-year yield in the US recovered from 1.802% to a high of 1.967% in the previous session.
Given the thin economic calendar in the US today, not much action is expected, which could help the pair consolidate on its gains.
USD/JPY Technical Levels
The immediate resistance is located at 120.72, above which gains could be extended to 121.26. On the flip side, support is located at 120.34, under which the pair could dip to its 50-DMA at 119.83.