16 Feb 2015
Yen erases gains as Treasury yields rise
FXStreet (Mumbai) - The Japanese Yen erased gains, taking the USD/JPY to 118.62 levels as the Treasury yields in the US rose amid doubts stalemate between Greece and its Eurozone creditors would end today.
Treasury yields rise
The 10-year US Treasury yield gained 6.1 basis points to 2.047%, rising to 2.1065 at one point of time. The rise in yields pulled up the USD/JPY to 118.60 levels from the low of 118.35. The Japanese Yen, being sensitive to sentiment, remains stuck in a range against the USD as the gains are being capped on the back of the ceasefire agreement between EU leaders, Ukraine and Russia, while the losses are being capped ahead of the Eurogroup meet today.
Meanwhile, the losses in the European stocks also caps losses in the Yen. The Germany’s Dax is down 0.215, while the London’s Ftse is down 0.17%.
USD/JPY Technical Levels
The immediate support is seen at 118.35, under which losses could be extended to 117.94 levels. On the flip side, resistance is seen at 118.81, above which the pair could test 119.20 levels.
Treasury yields rise
The 10-year US Treasury yield gained 6.1 basis points to 2.047%, rising to 2.1065 at one point of time. The rise in yields pulled up the USD/JPY to 118.60 levels from the low of 118.35. The Japanese Yen, being sensitive to sentiment, remains stuck in a range against the USD as the gains are being capped on the back of the ceasefire agreement between EU leaders, Ukraine and Russia, while the losses are being capped ahead of the Eurogroup meet today.
Meanwhile, the losses in the European stocks also caps losses in the Yen. The Germany’s Dax is down 0.215, while the London’s Ftse is down 0.17%.
USD/JPY Technical Levels
The immediate support is seen at 118.35, under which losses could be extended to 117.94 levels. On the flip side, resistance is seen at 118.81, above which the pair could test 119.20 levels.