USD/JPY plunges to test 132.00, US yields fall

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  • The Japanese yen gains momentum as US Yields and Wall Street Futures fall.
  • US Industrial Production stagnated in February against expectations of a 0.2% increase.
  • USD/JPY is heading for the third consecutive weekly loss, and the lowest daily close in a month.

He USD/JPY continued to fall as US Treasury yields hit new yearly highs, falling as low as 131.99. The 132.00 area is critical support for the dollar.

Optimism moderates, yen emerges

US yields fall on Friday. The 10-year yield fell to 3.45%, while the 2-year yield sits at 4.06%, down 2.40% on the day. The drop in yields comes at a time when US stocks opened lower as markets remain jittery.

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The US published Industrial Production with a result of 0% in February, against expectations of a 0.2% increase. The figures for January were revised upwards from 0% to 0.3%. Capacity utilization remains at 78%. Later on Friday, the University of Michigan will report on consumer sentiment.

Declining yields and sentiments are supporting the yen overall. USD/JPY lost more than a hundred points during the last three hours. The pair fell from 133.00 to 131.99.

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As of this writing, USD/JPY is trading at 132.30, under pressure and eyeing 132.00. A consolidation below would point to further weakness. The next barrier is at 130.60.

technical levels


Last price today 132.43
Today Change Daily -1.30
today’s daily change -0.97
today’s daily opening 133.73
daily SMA20 135.32
daily SMA50 132.54
daily SMA100 135.43
daily SMA200 137.49
previous daily high 133.82
previous daily low 131.72
Previous Weekly High 137.91
previous weekly low 134.12
Previous Monthly High 136.92
Previous monthly minimum 128.08
Fibonacci daily 38.2 133.02
Fibonacci 61.8% daily 132.52
Daily Pivot Point S1 132.36
Daily Pivot Point S2 130.98
Daily Pivot Point S3 130.25
Daily Pivot Point R1 134.46
Daily Pivot Point R2 135.2
Daily Pivot Point R3 136.57

Source: Fx Street

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