9 Jun 2015
USD/JPY regains footing, back at 124.50
FXStreet (Mumbai) - The broad based recovery in the USD seen in the early European session on Tuesday helped the USD/JPY recover from the low of 124.14 to trade at 124.50 levels.
Euro driven recovery
The common currency once again dictated trading moves in the major currency pairs. The bid tone on the USD/JPY pair got more pronounced after the EUR/USD pair fell below 1.13 levels. At the moment, the pair is not looking at the long-end treasury yields. The 10-year yield in the US is currently down 1.5 basis points at 2.366%.
Ahead in the day, the USD/JPY pair could continue to track the movement in the EUR/USD pair. The US economic calendar does not offer any first tier economic data releases.
USD/JPY Technical Levels
The immediate resistance is seen at 125.00, above which the pair could target 125.60 levels. On the flip side, a break below 123.74 could push the pair down to 123.00.
Euro driven recovery
The common currency once again dictated trading moves in the major currency pairs. The bid tone on the USD/JPY pair got more pronounced after the EUR/USD pair fell below 1.13 levels. At the moment, the pair is not looking at the long-end treasury yields. The 10-year yield in the US is currently down 1.5 basis points at 2.366%.
Ahead in the day, the USD/JPY pair could continue to track the movement in the EUR/USD pair. The US economic calendar does not offer any first tier economic data releases.
USD/JPY Technical Levels
The immediate resistance is seen at 125.00, above which the pair could target 125.60 levels. On the flip side, a break below 123.74 could push the pair down to 123.00.