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15 May 2014
USD/JPY falls to 1-week lows at 101.50
FXStreet (San Francisco) - The USD/JPY is trading down amid its correlation with 10-Year bond yields that cracked below 2.50% in the last few minutes.
After declining 50 pips in the last hour from 102.10, the USD/JPY broke below the 101.70 area to reach fresh lowest since May 8 around 101.50.
Currently, USD/JPY is trading at 101.55, down -0.33% on the day, having posted a daily high at 102.13 and low at 101.55. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.
USD/JPY sentiment
"Support is strong in the 101.20/40 zone so shorts may want to lighten up for a bounce from those levels," Jamie Coleman from FXBeat comments. "A break of 101.20 targets 100.75."
After declining 50 pips in the last hour from 102.10, the USD/JPY broke below the 101.70 area to reach fresh lowest since May 8 around 101.50.
Currently, USD/JPY is trading at 101.55, down -0.33% on the day, having posted a daily high at 102.13 and low at 101.55. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.
USD/JPY sentiment
"Support is strong in the 101.20/40 zone so shorts may want to lighten up for a bounce from those levels," Jamie Coleman from FXBeat comments. "A break of 101.20 targets 100.75."