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USD/JPY tumbles to test 132.00 as US yields slide

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USD/JPY tumbles to test 132.00 as US yields slide

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New update 2023.03.17 22:39
USD/JPY tumbles to test 132.00 as US yields slide

update 2023.03.17 22:39

  • Japanese Yen gains momentum as US Yields and Wall Street futures drop. 
  • US Industrial Production stagnates in February against expectations of a 0.2% increase. 
  • USD/JPY heads for the third weekly loss in a row, and to the lowest daily close in a month. 

The USD/JPY dropped further as Treasury Bond printed fresh highs, falling to as low as 131.99. The 132.00 area is a critical support for the US Dollar. 

Optimism fades, yen emerges

US yields are falling on Friday. The US 10-year yield dropped to 3.45% while the 2-year yield stands at 4.06%, down 2.40%, for the day. The decline in yields takes place as US stocks opened lower as markets remain anxious. 

Data released in the US showed Industrial Production rose 0% in February against expectations of a 0.2% increase. January's numbers were revised higher from 0% to 0.3%. Capacity Utilization remains at 78%. Later on Friday, the University of Michigan will release its Consumer Sentiment report.

Lower yields and a decline in stocks in boosting the Japanese Yen across the board. USD/JPY lost more than a hundred pips during the last three hours. The pair fell from above 133.00 to 131.99.

As of writing, USD/JPY trades at 132.30, under pressure and looking at the 132.00 mark. A consolidation below would point to further weakness. The next strong barrier is seen at 130.60. 

Technical levels


Today last price 132.43
Today Daily Change -1.30
Today Daily Change % -0.97
Today daily open 133.73
Daily SMA20 135.32
Daily SMA50 132.54
Daily SMA100 135.43
Daily SMA200 137.49
Previous Daily High 133.82
Previous Daily Low 131.72
Previous Weekly High 137.91
Previous Weekly Low 134.12
Previous Monthly High 136.92
Previous Monthly Low 128.08
Daily Fibonacci 38.2% 133.02
Daily Fibonacci 61.8% 132.52
Daily Pivot Point S1 132.36
Daily Pivot Point S2 130.98
Daily Pivot Point S3 130.25
Daily Pivot Point R1 134.46
Daily Pivot Point R2 135.2
Daily Pivot Point R3 136.57





 : 2023.03.17


Last updated

 : 2023.03.17

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USD/JPY tumbles to test 132.00 as US yields slide

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