USD/JPY decouples from US yields
USD/JPY reverses ahead of the March low (129.65) to bounce along the 50-Day SMA (133.24), while the 10-Year US Treasury yield rises for the third consecutive day after registering a fresh yearly low (3.25%) earlier this month.
Recent developments in the correlation coefficient point to a further decoupling as the indicator reflects a negative slope and sits at a negligible reading of +0.30.
USD/JPY Outlook
Unlike US yields, USD/JPY may attempt to retrace the decline from the March high (137.91) as it clears the opening range for April to register a fresh monthly high (133.87).
USD/JPY may push towards the 136.00 (23.6% Fibonacci expansion) handle as it trades back above the 50-Day SMA (133.24), but failure to hold above the moving average may lead to a test of the monthly low (130.63).
Additional Resources
USD/JPY rate clears April opening range ahead of US CPI
--- Written by David Song, Strategist
Follow on DavidJSong
DavidJSong
Recent developments in the correlation coefficient point to a further decoupling as the indicator reflects a negative slope and sits at a negligible reading of +0.30.
USD/JPY Outlook
Unlike US yields, USD/JPY may attempt to retrace the decline from the March high (137.91) as it clears the opening range for April to register a fresh monthly high (133.87).
USD/JPY may push towards the 136.00 (23.6% Fibonacci expansion) handle as it trades back above the 50-Day SMA (133.24), but failure to hold above the moving average may lead to a test of the monthly low (130.63).
Additional Resources
USD/JPY rate clears April opening range ahead of US CPI
--- Written by David Song, Strategist
Follow on DavidJSong
DavidJSong
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.