FXStreet (Edinburgh) – A bout of buying interest around the American currency is now sending USD/JPY to post session tops in the 123.80 area.
USD/JPY firmer on Treasuries
The pair has woken up from its early consolidative pattern boosted by a firmer tone in US Treasuries, where the 10-year benchmark is up more than 2% around 2.45%. Other bond markets are following suit with higher yields in Bunds and Gilts.
At least a bit of entertainment and volatility in today’s flat markets, with all the attention pointing to tomorrow’s Eurogroup meeting, leaving activity close to zero on Friday.
USD/JPY levels to watch
As of writing the pair is up 0.12% at 123.77 with the next resistance at 123.96 (high Jun.25) ahead of 124.38 (high Jun.24) and then 124.46 (high Jun.18). On the downside, a break below 123.23 (low Jun.26) would expose 123.20 (61.8% of 122.48-124.38) and finally 123.00 (psychological level).
(Market News Provided by FXstreet)