USD/JPY is trading at its daily high in the 106.95 price zone, bullish in the short-term and with room to break above 107.00 as the US Treasury yields momentum continues to underpin the pair, FXStreet’s Chief Analyst Valeria Bednarik briefs. Key quotes “Treasury yield are standing at one-month highs. In regards to macroeconomic data, Japan published the July Money Supply M2+CD, which increased to 7.9% YoY from 7.2% in the previous month. The US will release later today July CPI data.” “The 4-hour chart shows that USD/JPY finally surpassed its 200 SMA, while the 20 SMA accelerated its advance above the 100 SMA, both below the larger one. Technical indicators, in the meantime, have reached overbought territory, partially losing their bullish strength but holding on to daily highs. “The USD/JPY pair has now room to test the 107.00 area, with a break above it anticipating another leg north.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/JPY clinches 2020 highs and approaches 126.00 FX Street 2 years USD/JPY is trading at its daily high in the 106.95 price zone, bullish in the short-term and with room to break above 107.00 as the US Treasury yields momentum continues to underpin the pair, FXStreet’s Chief Analyst Valeria Bednarik briefs. Key quotes “Treasury yield are standing at one-month highs. In regards to macroeconomic data, Japan published the July Money Supply M2+CD, which increased to 7.9% YoY from 7.2% in the previous month. The US will release later today July CPI data.” “The 4-hour chart shows that USD/JPY finally surpassed its 200 SMA, while the 20 SMA accelerated its advance above… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
