USDJPY moves to a new high. Rates pushes pair highs

<p>The USDJPY moving to a new session high and in the process is testing the next target area between 143.44 and 143.54 (see red numbered circles on the chart above). </p><p> Moving above that area, and apart from the natural resistance near 144.00, traders would look toward the 144.12 to 144.22 area. That was home to a floor area going back to the end of June and into July.</p><p>You can see my earlier video outlining the technicals for today's trading from the start of the US session:</p><p>US yields are contributing to the move to the upside:</p><ul><li>2 year yield 4.907%, +3.4 basis points</li><li>5 year yield 4.247% +7.0 basis points</li><li>10 year yield 4.053% +9.6 basis points</li><li>30 year yield 4.109% +9.3 basis points</li></ul><p>The 30-year yield reached the highest level going back to November today. The 2-30 year yield spread is still -79 basis points, but off the lows at 109 basis points. </p>

This article was written by Greg Michalowski at www.forexlive.com.