USD/JPY brushes aside Suzuki comments to fresh nine-week highs
The verbal jawboning by Japan finance minister, Shunichi Suzuki, earlier helped the yen currency out a little in Asia trading. But that didn't last long with USD/JPY now rising to fresh nine-week highs of 148.76. This comes after the technical break of the 100-day moving average (red line) in trading this week.And with support from the bond market, the momentum is continuing as buyers take aim towards the 150.00 mark next. 10-year Treasury yields itself cleared a key technical hurdle in the form of its own 200-day moving average, as seen here.With USD/JPY now leading the charge ahead of European trading, that could lend a hand to keep the dollar on steadier footing in the session(s) to come. This article was written by Justin Low at www.forexlive.com.
The verbal jawboning by Japan finance minister, Shunichi Suzuki, earlier helped the yen currency out a little in Asia trading. But that didn't last long with USD/JPY now rising to fresh nine-week highs of 148.76. This comes after the technical break of the 100-day moving average (red line) in trading this week.
And with support from the bond market, the momentum is continuing as buyers take aim towards the 150.00 mark next. 10-year Treasury yields itself cleared a key technical hurdle in the form of its own 200-day moving average, as seen here.
With USD/JPY now leading the charge ahead of European trading, that could lend a hand to keep the dollar on steadier footing in the session(s) to come. This article was written by Justin Low at www.forexlive.com.
