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      USD/JPY extends weakness, Treasury yields drop

      FXStreet (Mumbai) - Fresh offers continue to hit the US dollar at regular intervals, pushing the USD/JPY to another fresh session low of 119.35 levels.

      Safe havens rise

      The Fed’s dovish turn on Thursday caught markets off guard, leading to a sharp drop in the rate hike bets and moderate risk aversion in the financial markets. Consequently, the traditional safe haven assets – JPY, Gold, Treasuries are on the rise.

      The Treasury yields dropped as well, with the long end of the market curve leading the way. The 10-yr yield now trades 4.8 basis points lower, while the 2-yr yield is down 3 basis points. Ahead in the day, the USD/JPY pair is likely to follow the overall market sentiment.

      USD/JPY Technical Levels

      The immediate support is now seen at 119.00 levels, under which the spot could target 118.59 (Sep 4 low). On the other side, resistance is located at 119.79 (previous day’s low) and 120.81 (200-DMA).

      EUR/USD shoots higher near 1.1450

      The buying interest is now gathering steam around the common currency, pushing EUR/USD to test daily lows near 1.1450....
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      AUD/USD rallies to 0.7260, unperturbed by risk-off

      The AUD/USD pair picked-up significant strength in the early moves and stormed its way through the 0.72 barrier and beyond, now testing highs reached on FOMC announcement.
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