Market news
27.10.2021, 14:54

USD/JPY rebound from weekly lows but find resistance again around 113.80/85

  • USD/JPY remains off lows, facing resistance at 113.85.
  • Quick rebound in US yields did not last, USD weakens again.

The USD/JPY rose from weekly lows at 113.37 to 113.83, reaching the highest level since the beginning of the European session but then quickly pulled back to the 113.65 area.

After the release of the Durable Goods Orders report, the USD/JPY bottomed at 113.37, the lowest level since October. A few minutes later, the decision of the Bank of Canada to end its QE program, boosted US yields and triggered a spike in USD/JPY to 113.83.

During the last hour, US yield turned again to the downside. The US 10-year yield is back at 1.56% after a brief rebound to 1.59%, down more than 3% for the day. The recovery in Treasuries is keeping the USD/JPY under pressure.

On Thursday, the Bank of Japan will have its monetary policy meeting and US economic data to be released includes Q3 GDP.

The immediate support in USD/JPY is seen around 113.40 area. A consolidation below would add more pressure targeting 113.20 and then 113.00/05. The US dollar needs to recover levels above 113.85 to alleviate the bearish pressure. Above the next resistance is located at 114.25.

Technical levels


© 2000-2021. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location