GWFX Global: USD/JPY is appearing to be bearish.
USD/JPY extends its bearish momentum and eyes a break below the 113 handle amid the sell-off in the Treasury yields and a rally in the Chinese Yuan, The US benchmark 10-year Treasury yields breached the 200-DMA for the first time since November 2017.
At press time, the USD/JPY pair is trading at a four-day low of 113.29 - down 0.33 percent on the day - having clocked a high of 113.66 earlier today. The pair has likely been dragged lower by the 10-year treasury yield, which fell below its 200-day MA of 2.96 percent soon before press time - its first break below the long-term MA in over 12 months.
Daily resistance: 113.30 113.70
Daily support: 112.70 112.50
At press time, the USD/JPY pair is trading at a four-day low of 113.29 - down 0.33 percent on the day - having clocked a high of 113.66 earlier today. The pair has likely been dragged lower by the 10-year treasury yield, which fell below its 200-day MA of 2.96 percent soon before press time - its first break below the long-term MA in over 12 months.
Daily resistance: 113.30 113.70
Daily support: 112.70 112.50