USD/JPY analysis for February 25 2021 – Strong upside impuslive movement with potential for test of 106..70
February 25, 2021 1:21 pm
German 10-year bond yields climb to highest since March last year as the global steepening continues
The big story in the market today continues to be that of bonds as the steepening continues with the long-end of the curve rising sharply.
10-year Treasury yields are up nearly 7 bps to 1.442% while 30-year Treasury yields are up 6.4 bps to 2.297% currently in European morning trade.
European stocks are starting to see gains chipped away while US futures reflect a decline in tech with Nasdaq futures down 0.7% after a brief and minor rebound. S&P 500 futures are down 0.2% near the lows but Dow futures are up 0.1%.
Further Development
Analyzing the current trading chart of USD/JPY, I found that the buyers are in control and that USD/JPY is near our first upside target at 106,23.
Support level is set at 105,85
The material has been provided by InstaForex Company – www.instaforex.com
The big story in the market today continues to be that of bonds as the steepening continues with the long-end of the curve rising sharply.
10-year Treasury yields are up nearly 7 bps to 1.442% while 30-year Treasury yields are up 6.4 bps to 2.297% currently in European morning trade.
European stocks are starting to see gains chipped away while US futures reflect a decline in tech with Nasdaq futures down 0.7% after a brief and minor rebound. S&P 500 futures are down 0.2% near the lows but Dow futures are up 0.1%.
Further Development
Analyzing the current trading chart of USD/JPY, I found that the buyers are in control and that USD/JPY is near our first upside target at 106,23.
Support level is set at 105,85
The material has been provided by InstaForex Company – www.instaforex.com
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