Technical Analysis

USD/JPY inches higher as risk mood starts to pick up

USD/JPY hits session highs of 108.73


Buyers are looking to extend near-term control in the pair by moving away from the 200-hour MA (blue line) now amid improved risk sentiment on the session.

US equity futures are now posting gains of 0.5% while we’re seeing European equities also chase a move higher. Meanwhile, Treasury yields are also inching upwards with 10-year yields now up by 2.4 bps to 2.173% currently.

E-minis 11-06

That is helping to keep the yen pressured on the session. For USD/JPY, price has now moved above yesterday’s high @ 108.72 and will be looking towards resistance around 108.87-90 next before offers at 109.00 come into play.

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