The US 10-year treasury yield clocked a high of 2.64 percent in the overnight trade, as expected, forcing a falling wedge breakout – a bullish reversal pattern – on USD/JPY’s hourly chart. So, a re-test of 111.90 could be on the cards. The bullish argument would further gain credence if the current hourly candle closes above the hourly chart resistance of 111.63. As of writing, the pair is trading at 111.60, having clocked a high of 111.69 soon before press time. The bullish setup would be invalidated if the spot finds acceptance below 111.42 – the low of the previous hourly candle. Hourly chart Trend: Bullish 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 NZD bullish: BNZ hike their milk price forecast as world economic risks recede from highs FX Street 4 years The US 10-year treasury yield clocked a high of 2.64 percent in the overnight trade, as expected, forcing a falling wedge breakout - a bullish reversal pattern - on USD/JPY's hourly chart. So, a re-test of 111.90 could be on the cards. The bullish argument would further gain credence if the current hourly candle closes above the hourly chart resistance of 111.63. As of writing, the pair is trading at 111.60, having clocked a high of 111.69 soon before press time. The bullish setup would be invalidated if the spot finds acceptance below 111.42 - the low of… 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.
