Forex

USD/JPY flirts with firm break above the 125.00 level

JPY

  • The continued rise in Treasury yields helps to underpin the pair
Justin Low

Monday, 11/04/2022 | 06:10 GMT-0

11/04/2022 | 06:10 GMT-0

USDJPY W1 11-04

The pair is buying and selling close to the highs at this time as consumers want to try to check waters above the 125.00 stage at the moment. The excessive on the day hit 125.05 however it’s all concerning the day by day/weekly shut for my part. A agency break above the determine stage will assist to doubtlessly set off the subsequent leg greater for yen pairs on the whole.

The 2015 excessive might supply some resistance @ 125.86 however past that, there is not something on the way in which in direction of 130.00.

USD/ JPY  is up 0.6% on the day with the newest bounce helped by the ongoing rout in the bond market. Treasury yields are leaping and all it takes is a little bit push for the pair to actually get away extra meaningfully above the 125.00 mark.

Replace (0617 GMT): Right here we go. The pair is now up 95 pips to a excessive of 125.27 on the day.

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