USD/JPY edges higher, trading within a range of 148.00-149.50 as US 10-year yields rise to 4.104%.
Momentum favors buyers, with a break above 149.50, exposing the key 150.00 level and resistance at the 200/100-DMA confluence at 151.20/21.
A drop below 149.00 could lead to a pullback toward the October 8 swing low of 147.35.
The USD/JPY edged higher during the North American session as US Treasury yields remained higher, particularly the 10-year T-note, which was up close to four basis points at 4.104%. The positive correlation between the US 10-year yield and the pair pushed the exchange rate to 149.13, up 0.37%.
USD/JPY Price Forecast: Technical outlook
The USD/JPY is still neutrally biased, though trading in a higher range within the 148.00-149.50 area, as traders decipher the Fed and the Bank of Japan's next move.
From a momentum standpoint, buyers remain in charge, yet the Relative Strength Index (RSI) hasn’t reached a new peak to push USD/JPY prices higher.
If USD/JPY clears the 149.50 area, this will immediately expose the 150.00 figure. Once removed, the next resistance would be the 200 and 100-day moving averages (DMAs) confluence at 151.20/21.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.