USD/JPY poised for a drop to 108.00 handle

OANDA:USDJPY   U.S. Dollar / Japanese Yen
The pair clocked a high of 109.76 levels as the treasury yields recovered from the Asian session lows to trade in the positive territory.
However, the rally in the pair from 108.00 to 109.76 appears to be a trap. This is because the treasury yields were muted yesterday… despite the strong US data.

For example – The recent high of the 10-yr Treasury yield is 2.3% (Monday’s high). The yield revisited 2.29% today before falling back to 2.24%. Meanwhile, the Dollar-Yen pair rose from 108.00 to 109.76, which clearly states the move could be surrendered given the 10-yr yield failed near 2.3% today.

On the charts, we have a bearish price RSI divergence on the 4-hour chart, while the daily RSI too has hit the overbought territory.

Thus a retreat to 108.00 appears more likely.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out