USD/JPY reaches 2-month high in the vicinity of the 113,70

FXStreet — After a short consolidation phase at the end of the Asian trading, the USD/JPY in the direction 114 to increase.

USD/JPY overcomes the 113,50, what comes next?

The cops continue to follow yields to the movements of the US Bonds and so can be formed in this context, a new one month high. The Treasury bond yields extend their rally as the market priced in its expectations in relation to a June rate hike, according to the US labour market data were down on Friday solid.

The Major benefits from the positive opening of the European stock markets and the associated improvement in risk sentiment. Also an advantage for the USD demand, rising Oil prices, the USD/JPY gains in the end.

The markets are now waiting for a new fundamental triggers, 114 Test. In the afternoon we expect the US JOLTS job openings, wholesale inventories, and the IDB/TIPP business optimism.

USD/JPY technical levels

Resistances lie at 113,92 (classical R2 / R3 Fibo), 114,50 (psychological level) and 114,91 (High 15. March). On the other hand, supports are located at the 113/112,97 (major support / daily Pivot), 112,87 (5-day MA) and 112,39 (100-day MA).

** FXStreet News Editorial, FXStreet**

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