USD/JPY has recovered 14 pips from session lows despite weakness in Treasury yields. The US equity index futures are also flashing red. The pair needs to rise above 109.07 to invalidate the bearish case. USD/JPY has recovered from session lows but remains on the defensive below 109.07. The pair is currently trading at 108.50, representing marginal losses on the day, having hit a low of 108.36 earlier today. The 14-pip recovery is somewhat confounding, given the futures on the S&P 500 are still reporting a 0.25% drop, courtesy of the renewed US-China political tensions. Further, the US 10-year Treasury yield is trading at 1.769%, the lowest level since Nov. 4. Notably, the yield has shed 20 basis points since topping out of 1.972% on Nov. 7. While the pair has trimmed losses, the bias remains bearish the daily MACD histogram printing deeper bars below the zero line, a sign of the strengthening of bearish momentum. The relative strength index is also reporting bearish conditions with a below-50 print, validating the pair’s recent breach of an ascending trendline from the Aug. 26 low of 104.45. The outlook would turn bullish if and when the pair finds acceptance above 109.07 (Nov. 18 high). That would invalidate the lower highs setup. Daily chart Trend: Bearish Technical levels 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 Falling wedge pattern breakout yields as NEO spikes by 2% FX Street 3 years USD/JPY has recovered 14 pips from session lows despite weakness in Treasury yields. The US equity index futures are also flashing red. The pair needs to rise above 109.07 to invalidate the bearish case. USD/JPY has recovered from session lows but remains on the defensive below 109.07. The pair is currently trading at 108.50, representing marginal losses on the day, having hit a low of 108.36 earlier today. The 14-pip recovery is somewhat confounding, given the futures on the S&P 500 are still reporting a 0.25% drop, courtesy of the renewed US-China political tensions. Further, the US 10-year… 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.
