The US President Donald Trump is feeling enthusiastic
about Taylor and the expectations for the next Fed’s rate hike rose after Janet
Yellen’s comments during the weekend. Following these events
yesterday the US Treasury yields skyrocketed to highest level since
November 2008.
Today the USD/JPY is backed up the extended advance on the US Treasury yields and is trading at the upper side of its range.
Thechnically speaking seems that the pair has not enough stregth to climb significanlly higher. On the four hour time frame the price has topped at the 100-day SMA, acting as a dynamic resistance at 112.46, which is also the daily high. The pair couldn’t cross to above the 100-day SMA , but meanwhile remains above the 20-day SMA, that is staying flat around 112.00 and is providing first support level. Stochastic has turned sharply to south, but yet remains within extreme overbought territory. RSI also retreated from the north area and eased around it mid-line.
Nevertheless I’m positive on further advance for the pair , but first bulls should conquer the October 6th’s high at 113.43.
Today the USD/JPY is backed up the extended advance on the US Treasury yields and is trading at the upper side of its range.
Thechnically speaking seems that the pair has not enough stregth to climb significanlly higher. On the four hour time frame the price has topped at the 100-day SMA, acting as a dynamic resistance at 112.46, which is also the daily high. The pair couldn’t cross to above the 100-day SMA , but meanwhile remains above the 20-day SMA, that is staying flat around 112.00 and is providing first support level. Stochastic has turned sharply to south, but yet remains within extreme overbought territory. RSI also retreated from the north area and eased around it mid-line.
Nevertheless I’m positive on further advance for the pair , but first bulls should conquer the October 6th’s high at 113.43.
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