A have a look at US 10-year yields
I’ve been watching the downward triangle in US yr yields for awhile. The break within the development coincided within the newest leg-up in USD/JPY.
What’s taking place now could be that the break is fading. In the meantime, USD/JPY has flattened out.
It is a minor dichotomy for the time being however I feel it is amplified due to latest financial information. The ADP revision and the robust ISM non-manufacturing report (together with the perfect new orders since 2005) have not moved the needle, which is troubling for the bulls in USD/JPY and people hoping for Treasury yields to maneuver increased.
Technically, a downward triangle is not precisely the strongest technical sign to start with. It is beginning to seem like the development is extra of a sideways transfer within the 2.60%-2.80% vary and that would be the observe to observe.