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24 Feb 2015
USD/JPY steadies around 119.50
FXStreet (Mumbai) - The slide in the Japanese Yen has stalled around 119.50 per USD ahead of the US session, with the USD/JPY pair having bounced-off from 118.90 levels earlier today.
Yen remains weak as markets await Yellen’s testimony
The USD/JPY remains resilient around 119.50 levels on Tuesday as markets eagerly await comments from the Fed Chairwoman Yellen on the timing of the first interest rate hike in the US. The 10-year Treasury yield cooled-off to 2.071% from a high of 2.087% seen earlier today. Consequently, the gains in the USD/JPY were capped around 119.58 levels.
Meanwhile, the increasing skepticism regarding the Greek debt negotiation along with signs of weakness in the US equity futures could support the Japanese Yen.
USD/JPY Technical Levels
At the moment, the pair trading 0.53% higher at 119.45 levels. The immediate resistance is seen at 119.58, above which the pair could test 120.00 levels. On the flip side, a break below support at 119.40, could push the pair down to 119.00 levels.
Yen remains weak as markets await Yellen’s testimony
The USD/JPY remains resilient around 119.50 levels on Tuesday as markets eagerly await comments from the Fed Chairwoman Yellen on the timing of the first interest rate hike in the US. The 10-year Treasury yield cooled-off to 2.071% from a high of 2.087% seen earlier today. Consequently, the gains in the USD/JPY were capped around 119.58 levels.
Meanwhile, the increasing skepticism regarding the Greek debt negotiation along with signs of weakness in the US equity futures could support the Japanese Yen.
USD/JPY Technical Levels
At the moment, the pair trading 0.53% higher at 119.45 levels. The immediate resistance is seen at 119.58, above which the pair could test 120.00 levels. On the flip side, a break below support at 119.40, could push the pair down to 119.00 levels.