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USD/JPY down to 107.00 as pressured by yields and Ind production

FXStreet (San Francisco) - US industrial production reported an unexpectedly decline in August and it put the USD under pressure and besides down US Yields, the USD/JPY broke 107.15 to test the 107.00 area.

However the USD/JPY seems to have bounced at this level and now it is trading at 107.15, down 0.18% on the day, having posted a daily high at 107.38 and low at 107.01.

The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.

US yields are down to 2.589%, 2.5 bp lower on the day after weak industrial production data. "USD/JPY lower as well, having worked through small bids in the 107.10/15 area," Jamie Coleman comments. "Overnight, we traded up as high as 2.65%. More bids are seen at 106.90/107."

USD/JPY levels

If the pair holds above 107.00 and it recovers the up mood, next resistances are at 107.30 and 107.40. On the downside, supports are at 107.00, 106.85 and 106.65.

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