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Forex & Commodities Forecast – USD/JPY Defends 155 as Copper Threatens Highs

By: 
Christopher Lewis

The US 10-year yield is still elevated in the US, and markets are still having to navigate the random words of a few world leaders.

US 10Y Technical Analysis

Daily US 10-year Treasury yield candlestick chart showing the yield near 4.607%, above both the 50-day and 200-day EMAs.
The US 10-year Treasury yield trades around 4.607%, easing back from the 4.700% level while holding above both EMAs. Source: TradingView.

The US 10-year yield is drifting a little bit lower in early trading, but the 4.60% level continues to be support. We’ll have to watch this one really closely. It does have a pretty significant influence on a lot of other markets most of the time, and therefore it’s one of the first things I check is to see how interest rates in general are behaving. It looks like we are still in a state of flux here.