U.S. yields have reached new highs, with the 10-year yield increasing by 7.0 basis points today to 4.395%. This represents a 24-basis-point increase for the week, marking the largest one-week rise since mid-January 2024.
Key Technical Levels and Price Action
USDJPY Breakout:
The pair has moved above the 61.8% retracement level of the November high to December low, which sits at 153.647.
The price reached a high of 153.79 today, with nearby resistance at:
153.88 (minor resistance)
154.00 (psychological/natural resistance).
Intraday Price Movement:
Earlier, the price rise stalled at the 61.8% retracement level, attracting resistance sellers.
The subsequent correction found support within a key swing area between 153.26 and 153.459, with the low holding at 153.255.
This support held firm, providing buyers the confidence to push higher.
Summary and Outlook
Upside Targets:
153.88 and 154.00 are the next resistance levels to watch for a potential continuation of the bullish move.
Downside Risks:
A break below the 153.26–153.459 swing area could signal a deeper retracement, challenging bullish momentum.
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