USD/JPY builds on Friday’s impressive gains on Monday. Activity in US manufacturing sector expanded at a strong pace in July. US Dollar Index retreats modestly after advancing toward 94.00. The USD/JPY pair erased all of its weekly losses and gained more than 100 pips on Friday. With the greenback preserving its strength at the start of the new week, the pair extended its rebound and touched its highest level at 106.47 on Monday. As of writing, the pair was up 0.4% on a daily basis at 106.28. USD rebounds on the back of rising T-bond yields The decisive recovery witnessed in the US Treasury bond yields provided a boost to the USD on Monday. The US Dollar Index (DXY) advanced to a session high of 93.99 in the early trading hours before retreating modestly. At the moment, the 10-year US T-bond yield is up nearly 5% and the DXY is gaining 0.37% at 93.80. Meanwhile, Wall Street’s main indexes are up between 0.7% and 1.3% on the day, pulling investors’ attention away from T-bonds and the USD. The data published by the Institute for Supply Management (ISM) showed on Monday that the economic activity in the US’ manufacturing sector expanded at a stronger pace than expected. The ISM Manufacturing PMI rose from 52.6 in June to 54.2 and beat analysts’ estimate of 53.6. In the Asian session on Tuesday, Tokyo Consumer Price Index (CPI) and Monetary Base data, which are unlikely to have a significant impact on USD/JPY, will be featured in the Japanese economic docket. Technical levels to watch for 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 Gold Price Analysis: Surpassed a hard hurdle, little resistance left to $2,000 – Confluence Detector FX Street 3 years USD/JPY builds on Friday's impressive gains on Monday. Activity in US manufacturing sector expanded at a strong pace in July. US Dollar Index retreats modestly after advancing toward 94.00. The USD/JPY pair erased all of its weekly losses and gained more than 100 pips on Friday. With the greenback preserving its strength at the start of the new week, the pair extended its rebound and touched its highest level at 106.47 on Monday. As of writing, the pair was up 0.4% on a daily basis at 106.28. USD rebounds on the back of rising T-bond yields The decisive recovery witnessed… 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.
