USD/JPY breached a key ascending trendline, hit a low of 110.70 in Asia. The uptick in the treasury yields is not helping the US dollar. Currently, the USD/JPY pair is trading at 110.80, having clocked a session low of 110.70 earlier today. The currency pair breached the trendline sloping upwards from the March low of 104.63 and May 29 low of 108.11 on Wednesday after the EU-US trade talks lifted risk sentiment and triggered a broad-based weakness in the US dollar. Further, CNY recovery is also helping JPY and other Asian currencies post gains against the US dollar. More importantly, the 10-year treasury yield jumped to a six-week high of 2.976 percent on Wednesday and has risen by 14 basis points in the last seven days, but so far, has failed to put a bid under the USD. Looking ahead, the pair may find acceptance below the 50-day moving average (MA) of 110.55 if the US June durable goods orders number, scheduled today at 12:30 GMT, prints below estimates. USD/JPY Technical Levels Resistance: 111.15 (5-day moving average), 111.40 (May 21 high), 112.00 (200-hour moving average). Support: 110.55 (50-day moving average), 110.09 (200-day moving average), 109.91 (38.2 percent Fibonacci retracement of the rally from the March low of 104.63). 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 ECB: Draghi to probably dodge any questions on timing of next rate move – BNPP FX Street 5 years USD/JPY breached a key ascending trendline, hit a low of 110.70 in Asia. The uptick in the treasury yields is not helping the US dollar. Currently, the USD/JPY pair is trading at 110.80, having clocked a session low of 110.70 earlier today. The currency pair breached the trendline sloping upwards from the March low of 104.63 and May 29 low of 108.11 on Wednesday after the EU-US trade talks lifted risk sentiment and triggered a broad-based weakness in the US dollar. Further, CNY recovery is also helping JPY and other Asian currencies post gains against the US dollar. More importantly,… 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.
