The US yields are moving higher with the 2 year near unchanged at 4.66% (was down -19.8 basis points at low of 3.446%), and the 10-year up 6.3 basis points and now above 4% at 4.058%. The low from last week reached 3.86% on Friday.
Looking at the hourly chart of the 10-year, the yield is moving to a key target. The falling 100-hour MA and the 38.2% of the move down is being approached near 4.07%. We will see if that level can hold resistance or break above?
Over a longer look on the daily chart, yields are lower from the 4.809% high from January but still above the low yields from September 2024 at 3.60%. There is additional resistance between 4.108 and 4.157%.
The USDJPY is trading to new highs and in doing so, is getting closer to the falling 100-hour MA at 147.49. The price is back above the low from March at 146.53 which will now be a short-term support target.
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This article was written by Greg Michalowski at www.forexlive.com.