USD/JPY Today Reaches Intraday Gains at 136.00

USD JPY today combined the highest daily gain in three weeks as it refreshed its low near 136.00, while reversing from a two-month high on Monday morning. This information is summarized directly based on reports from fxstreet.com.

Thus, the Yen pair tracks the US Treasury yields ahead of the key announcements from the Bank of Japan (BOJ). The report said that the US 10-year Treasury yields registered a slight decline around 3.93% while its 2-year counterpart retreated from the highest levels since November 2022 as bond traders flirted with 4.82% levels. It is worth noting that mixed concerns surrounding the incoming BOJ board also seem to challenge the USD JPY buyers today. Earlier, hawkish concerns regarding the incoming BOJ Governor, Kazuo Ueda boosted the Yen pair. However, mixed comments from the vice-nominated Governors, Ryozo Himino and Shinichi Uchida seem to probe the dovish bias surrounding the BOJ. On the other hand, firmer US inflation signals and hawkish Fed concerns have supported the Yen pair buyers earlier. The DXY marked its biggest weekly jump since September 2022 in two weeks, with the Fed’s preferred inflation gauge, the PCE index, signaling impressive preparation. On the same lines, allowing Fed policymakers to reiterate their hawkish bias and support market bets for higher Fed rates. Apart from the US data, geopolitical fears surrounding Russia and China also boosted the DXY and probed the recent weakness in USD/JPY. Amid these plays, the S&P 500 stocks remained indecisive even as the Wall Street benchmark dropped to its biggest weekly level in 2023. The US 2-year Treasury yield rose to its highest since early November 2022, and remained largely unchanged. The report said, USD JPY is on the buyers’ radar today despite the latest pullback from multi-day tops. However, any hawkish comments from BOJ Governor nominee Ueda could help the speech in Japan’s upper house around 04:10 GMT.

USD JPY Technical Analysis Today

A two month old rising resistance line caps USD/JPY around 136.50 ahead of the 100-DMA and 200-DMA convergence, located around 137.10-15.

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