20 Mar 2015
USD/JPY rises to fresh session highs
FXStreet (Mumbai) - The USD/JPY pair rose to a fresh session high of 120.90, after the major European equity markets strengthened, while the US Treasury yields recovered losses.
Yen declines as equities gain
The major European equity markets made a positive start, which pressurized the Japanese Yen. The Germany’s Dax gained 0.62%, while the London’s Ftse gained 0.17%. The S&P futures in the US also advanced 0.30%.
Meanwhile, the 10-year Treasury yield in the US recovered from the low of 1.951% to 1.97%. Consequently, the USD/JPY was pushed higher to the session high of 120.90. The pair could move to further highs in case the yields continue to rise further.
USD/JPY Technical Levels
The immediate resistance is seen at 121.00, above which gains could be extended to 121.55 levels. On the flip side, a break below 120.60 (hourly 100-MA), under which losses could be extended to 120.05 levels.
Yen declines as equities gain
The major European equity markets made a positive start, which pressurized the Japanese Yen. The Germany’s Dax gained 0.62%, while the London’s Ftse gained 0.17%. The S&P futures in the US also advanced 0.30%.
Meanwhile, the 10-year Treasury yield in the US recovered from the low of 1.951% to 1.97%. Consequently, the USD/JPY was pushed higher to the session high of 120.90. The pair could move to further highs in case the yields continue to rise further.
USD/JPY Technical Levels
The immediate resistance is seen at 121.00, above which gains could be extended to 121.55 levels. On the flip side, a break below 120.60 (hourly 100-MA), under which losses could be extended to 120.05 levels.