USD/JPY trims gains as falling yields on u.s.

The yen strengthened against the us dollar after the start of the american session amid a fall in yields of the u.s. bond.

The pair USD/JPY reached a peak of 111.60 before investing to the poor. Currently, quoted on 111.10/15, barely higher for the day. Previously, the pair moved with an upward bias despite the data mixed from the US. Initial claims for unemployment rose 257K above the 241K expected, durable goods orders for march increased by 0.7%, below the 1.2% consensus of the market, while the pending sales of homes fell by 0.8%. Tomorrow will be released the first reading of GDP growth in the first quarter.

The yield u.s. 10-year fell below 2.30% and weakened the pair. The Dow fell 0.15%, the S&P 500 fell 0.15%, while the Nasdaq gained 0.19%.

Technical levels

Since the highs, the couple lost 50 pips in sixty minutes. It reached a minimum of log on to 111.05. First support is seen around 111.00, followed by 110.85 (a minimum of 26 of April) and 110.25/30 (minimum of 6 April).

On the other hand, resistance could be located at 111.40 (maximum of the asian session) 111.60 (daily maximum) and 111.75/80 (April 26).

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