The Dollar-Yen pair remains well bid in Asia with treasury yields showing signs of life following Friday’s surprise drop in the US unemployment rate.
The spot was last seen trading around Friday’s high of 111.36. The 10-year treasury yield recovered from the low of 2.269% to 2.382% on Friday and was last seen trading around 2.388%.
DOUBLE BOTTOM REVERSAL ON CHARTS
The daily chart now shows a double bottom reversal formation with neckline resistance at 112.20, courtesy of Friday’s rebound from 110.09 levels.
USD/JPY TECHNICAL LEVELS
A break above 111.60 would expose 112.00 and 112.20. On the lower side, breach of support at 110.98 would open doors for a re-test of 110.61 and 110.09.
Markets may correct this week. 110 is a tough nut to crack but Currently, USD/JPY is trading at 111.43, up + 0.31%, having posted a daily high at 111.58 and low at 111.01. And the safe haven yen could find more buyers.
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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