10 years yield up to 2.56%
The USDJPY and US 10 year yield has moved higher after Fed Chair Yellen said that she sees wage growth picking up.
Below is the link to her commencement address:
For the USDJPY the pair fell below trend line and then the 100 hour MA. That sent the pair down to the 38.2% retracement of the move up form the Dec 7th low. That came at 116.537. The low reached 116.54.
The rally higher has taken back those breaks and moved the price back above the 100 hour MA (blue line) and broken trend lines.
We are looking to testing a topside trend lined at 117.33. The 38.2% of the move down from last THursday's high comes in at 117.35.
Market liquidity is a bit light, so moves may be exaggerated, but the comments remind traders of the bullish bias for the USD fundamentaly.
The 10 year yield bounced off the low and remains below the highs for the day but seems to have stalled the fall on the news....
