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16 Dec 2014
USD/JPY falls to one-month low
FXStreet (Mumbai) - The demand for safety amid risk aversion in the financial markets has pushed the Japanese Yen to a one-month high against the US dollar.
The USD/JPY pair now trades 0.62% lower at 117.10 levels, compared to the previous session’s close of 117.43 levels. The Yen continued to gain tracking the fall in the US Treasury yields. The 10-yr treasury yields fell to 2.07% yesterday, lowest since Oct. 16. The yield currently trades 1.5 basis points lower at 2.101%.
Meanwhile, a weak China manufacturing data did little to calm market nerves. An overnight weakness in the US equities and fall in the Asian equities today, further aided the Yen.
USD/JPY Technical Levels
The pair has an immediate support located at 116.83, under which the pair could test 116.00 levels. Meanwhile, resistance is seen at 117.43 and 118.97 levels.
The USD/JPY pair now trades 0.62% lower at 117.10 levels, compared to the previous session’s close of 117.43 levels. The Yen continued to gain tracking the fall in the US Treasury yields. The 10-yr treasury yields fell to 2.07% yesterday, lowest since Oct. 16. The yield currently trades 1.5 basis points lower at 2.101%.
Meanwhile, a weak China manufacturing data did little to calm market nerves. An overnight weakness in the US equities and fall in the Asian equities today, further aided the Yen.
USD/JPY Technical Levels
The pair has an immediate support located at 116.83, under which the pair could test 116.00 levels. Meanwhile, resistance is seen at 117.43 and 118.97 levels.