“¢ The prevalent risk-on mod continues to dent JPY’s safe-haven demand. “¢ A goodish pickup in the US bond yields remained supportive of the uptick. “¢ Upside remains capped amid weaker USD ahead of the US inflation figures. The USD/JPY pair held on to its mildly positive tone through the early European session on Tuesday, with bulls now eyeing a follow-through momentum beyond the very important 200-day SMA. The pair built on the previous session’s modest uptick from sub-111.00 level and remained supported by a fresh wave of global risk-on trade. The overnight strong rally in the US equities spilt over to the Asian markets on Tuesday and was seen denting the Japanese Yen’s relative safe-haven demand. Bullish traders further took cues from a goodish pickup in the US Treasury bond yields, with the benchmark 10-year government bond yield bouncing from 2.62% – the lowest since Jan. 31, touched in the aftermath of mixed US monthly retail sales report released in the previous session. However, the prevalent US Dollar selling bias, primarily led by Brexit optimism-led rally in the British Pound, failed to provide any additional boost and might turn out to be the only factor keeping a lid on any runaway rally ahead of today’s important US macro data. The US economic docket, highlighting the release of the latest consumer inflation figures, which coupled with Wednesday’s durable goods orders data will play an important role in driving the term sentiment surrounding the buck and eventually provide some fresh directional impetus for the major. Technical levels to watch Momentum beyond mid-111.00s is likely to confront some fresh supply near the 111.75 level, above which the pair is likely to aim towards conquering the 112.00 round figure mark. On the flip side, the 111.00 handle now becomes immediate support to defend, which if broken might turn the pair vulnerable to accelerate the slide towards 111.70 horizontal support en-route its next major support near the 110.35-30 region. 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 UK: Focus on GDP and Brexit voting today – TDS FX Street 4 years "¢ The prevalent risk-on mod continues to dent JPY's safe-haven demand. "¢ A goodish pickup in the US bond yields remained supportive of the uptick. "¢ Upside remains capped amid weaker USD ahead of the US inflation figures. The USD/JPY pair held on to its mildly positive tone through the early European session on Tuesday, with bulls now eyeing a follow-through momentum beyond the very important 200-day SMA. The pair built on the previous session's modest uptick from sub-111.00 level and remained supported by a fresh wave of global risk-on trade. The overnight strong… 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.