Home›Forex›Major Pairs›USDJPY breaks above 100-day moving average and 160.00

USDJPY breaks above 100-day moving average and 160.00

The move comes as hawkish remarks from Fed Chair Powell and rising U.S. yields lift the two-year yield near 4.34% and strengthen the dollar versus the yen.

Reported · Written up by our desk · Major Pairs

USDJPY extended higher, clearing its 100-day moving average at 159.994 and the 160.00 resistance level, with the pair reaching 160.15 as buyers maintained control, according to Forexlive.

The advance was supported by hawkish comments from Fed Chair Powell and a jump in U.S. Treasury yields, with the two-year yield up nearly 11 basis points to 4.34% and the 10-year yield rising by 5.2 basis points to 4.724%.

Forexlive also pointed to a concentrated resistance zone between 160.446 and 160.864, noting that a break above that cluster would reinforce the bullish bias.

For now, the 100-day moving average at 159.994 and the 160.00 level are described as the key short-term barometer, with a move back below suggesting the breakout would lose some of its technical appeal.

More like this

Sources