- Dollar advances throughout the market, DXY approaches 107.00.
- USD/JPY is close to the 20-day moving average.
- Ahead: US industrial production and housing starts data.
The USD/JPY is having the best day in over a week on Tuesday. The pair rose to 134.48, reaching the highest level since August 10. In the previous American session, it remains in the high zone, with the bullish tone intact.
The USD/JPY advance is trailed by a stronger dollar across the market. DXY rises for the third day in a row and approaches 107.00. In turn, Treasury bond yields rose modestly on Tuesday. The 10-year tranche yields 2.80% and the 30-year 3.10%.
Wall Street futures are on neutral ground. The rally continues with the main indices in the area of maximums in months. On Tuesday in the US data on industrial production and housing starts will be published. On Wednesday it will be the turn of the minutes of the last meeting of the Federal Reserve.
Lateral, still below the average of 20
The pair’s advance brought the price towards the 20 day moving average which is passing through 134.60 and just above is 135.00 and the 55 day moving average. In the opposite direction, the first major support appears at 133.80, followed by 133.45 and 132.90. Further below key support looms at 131.50 and a close below would enable a bearish extension towards the month’s low.
Technical levels
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
