Yields moving higher pushes the USDJPY back above the 100 hour MA

The stronger price components in ISM index has the yields moving to the upside, and pushing up the USDJPY in the process.

The 10 year yield Yield A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as Read this Term is now up 8.2 bps at 3.994% - just below 4%. The 2 year is up 8.4 bps.

Looking at the USDJPY USD/JPY The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting Read this Term, the pair has moved back above its 100 hour moving average at 135.093 (blue line in the chart above). That retest comes after selling in the European session took the price below that moving average, and down to retest its 200 hour moving average (green line in the chart above).

Recall from last week, the 200 hour moving average (green line in the chart above) stalled the fall on Friday.

So the last two tests of the 200 hour moving average have found willing buyers against the risk defining moving average level.

What next?

The Asian session highcame in at 136.46. The high price from Monday was at 136.54. Those levels will be the next targets to get to and through before the extreme price from yesterday's trade at 136.899. That high stalled ahead of the falling 100 day moving average 137.00, and the 200 day moving average at 137.186.

Overall, the sellers had their shot beef below the 100 hour moving average, but could not extend below the 200 hour moving average to confirm the selling momentum from a technical perspective.

US stocks have started to react to the higher yields as well.

• Dow Industrial Average -0.26%
• S&P index -0.57%
• NASDAQ index -0.65%