USD/JPY retreats from tops above 135.00, remains firm on dollar, yields – by pabspiovano USDJPY Currencies Majors
Higher US yields, USD-buying bolster the upside in the pair.resumes the monthly rebound and advances to new highs past the 135.00 mark on Wednesday.USD/JPY sets aside Tuesday’s retracement and clinches new multi-week tops in the area north of 135.00 the figure on the back of the ongoing bounce in the greenback and further upside in US yields across the curve.
Earlier in the Asian trading hours, Industrial Production in Japan contracted at an annualized 0.5% in February, while the Reuters Tankan Index held steady at -3 in April. In the US, MBA Mortgage Applications shrank 8.8% in the week to April 14 ahead of the release of the Fed’s Beige Book later in the NA session.As of writing the pair is gaining 0.17% at 134.31 and the break above 135.13 would expose 137.09 and then 137.91 . On the flip side, the initial support emerges at 133.
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