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US Yields Put Bitcoin, Energy and USD/JPY at Key Tests

By: 
Christopher Lewis

US yields remain elevated as XLE, Bitcoin and USD/JPY face key technical tests, with BTC $80,000 and Friday’s jobs report among the levels and catalysts to watch.

US10Y Technical Analysis

US 10-Year yield daily chart at 4.774% trading above both EMAs near the 4.80% level.
US10Y trades at 4.774%, holding above the 50 EMA at 4.634% and the 4.60% breakout zone, with the 200 EMA rising at 4.431%. Source: TradingView.

The US 10-year yield has pulled back just a touch during early trading here on Wednesday from the 4.80% level. We are getting very elevated here. That being said, this pullback might just end up being a pullback that brings higher yields. We’ll just have to wait and see. Clearly, that’s been the story here. Higher yields will have a major influence on multiple markets, so we’ll be watching that.