ew-forecast

Bearish Looking 10Y US Notes Can Push USDJPY Higher

CBOT:ZNZ2021   10-YEAR T-NOTE FUTURES (DEC 2021)
Hello traders!

Today we will talk about 10Y US Notes and its negative correlation with USDJPY .

10Y US Treasury yields keeps pointing lower, as we see a bearish triangle formation within wave 4 correction that can send the price even lower for wave 5. If that's the case, then respecting correlations, USDJPY can see more gains for wave 5, as we also see a bullish triangle pattern within wave 4.

As you can see, triangle, a continuation pattern can be approaching the end, as we see the final subwave "e" in progress, so ahead of NFP report, be aware of that final 5th wave before we will see reversals.

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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

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