USD/JPY: Pair Jumps Above 110 as Yields Rise Again

06 / 06 / 2018
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The greenback was trading higher against the Japanese yen and the USDJPY pair ticked higher during the London session and it was seen hovering around the important 110 level.

There are no major data on the agenda today, but positive sentiment and rising US yields pushed the pair higher as investors bought higher yielding US dollar and sold the lower yielding Japanese level.

The 10-year US treasury yield is seen jumping toward the psychological level of 3.0% again and as the situation surrounding Italy improved, traders started selling US Treasurys again.

Bulls bought the pair and pushed the greenback back above 110, where previous highs are converged with the 200 day moving average. If the pair jumps above, further potential toward the 111 level could occur.

On the downside, the buying zone might be around 109.80 and if not held, bears could push the pair back to the 109 level. In all cases we strongly recommend to have rigorous money and risk management.

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