USDJPY buyers making a play in early US trading 0 (0)

The USDJPY buyers are making a play above the 100/200 hour MA in early US trading. Those MA come in at 139.493 and 139.77. If the buyers are serious, moving away from the MAs would show their commitment.

The USDJPY pair has been trading within a fairly narrow range between 138.73 and 140.92 over the last 10 or so trading days. The pair remains near the high of the move up from May, it is just having difficulty keeping the momentum going as traders fluctuate their feelings to the intraday whims of the market.

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

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US dollar stretches higher as yields climb 0 (0)

The US dollar is at the highs of the day on a number of fronts and that’s pushed EUR/USD down 42 pips to 1.0671, breaking yesterday’s low.

The catalyst might be fixed income, where US yields are up 1-3 bps across the curve and at session highs. The RBA hike may have convinced some that global central banks will need to hike further. For what it’s worth, Fed fund futures still price just a 25% chance of a hike in June, though that rises to 80% in July.

A further leg of US dollar strength would need some help from stock market selling.

This article was written by Adam Button at www.forexlive.com.

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