10-year T-bond yields add more than 1%. US Dollar Index stays in red ahead of FOMC announcements. Wall Street opens in the positive territory. Following a drop to a fresh 5-day low of 111.15 earlier in the day, the USD/JPY pair reversed its course and erased all of its daily gains. As of writing, the pair was virtually unchanged on a daily basis at 111.43. The broad-based selling pressure surrounding the greenback weighed on the pair during the first half of the day. With the US Dollar Index slumping to its lowest level since the first week of March at 96.29, the pair extended its slide. Although there were no clear catalysts behind the DXY’s fall, markets seem to be pricing a dovish FOMC dot plot. “We look for the median dots to decline in each of the next three years, but not all the way to zero for 2019,” TD Securities analysts argued in a recently published report. However, a sharp rebound witnessed in the Treasury bond yields, which generally shows a strong correlation with the pair, in the last hour allowed USD/JPY to retrace its drop today. At the moment, the 10-year reference is up 1.15% on the day. Meanwhile, major equity indexes in the U.S. started the day in the positive territory to reflect a risk-on mood in the early NA session. The Dow Jones Industrial Average and the S&P 500 are both up around 0.5% minutes after the opening bell. Technical levels to consider With a decisive break above 111.50 (200-DMA), the pair could target 112 (psychological level) and 112.30 (200-WMA). On the downside, supports could be seen at 111.15 (daily low), 110.85 (100-DMA) and 110.50 (50-DMA). 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 Litecoin overview: LTC/USD range-bound amid rising volume FX Street 4 years 10-year T-bond yields add more than 1%. US Dollar Index stays in red ahead of FOMC announcements. Wall Street opens in the positive territory. Following a drop to a fresh 5-day low of 111.15 earlier in the day, the USD/JPY pair reversed its course and erased all of its daily gains. As of writing, the pair was virtually unchanged on a daily basis at 111.43. The broad-based selling pressure surrounding the greenback weighed on the pair during the first half of the day. With the US Dollar Index slumping to its lowest level since the first week of March at… 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.