Forex: USD/JPY jumps after weak US bond auction

FXstreet.com (Córdoba) - USD/ JPY jumped over 30 pips, breaking above the 80.30 resistance area after a weaker-than-expected 30-year Treasurys auction sent bond prices to session lows, and yields higher, helping to lift the interest-rate sensitive USD/JPY. Treasurys remain choppy near lows, although the market has stabilized after the initial sell-off.

USD/JPY rose toward its highest level in a week at 80.40 within the last minutes and currently trades just below that level around 80.35 where it records a 0.60% daily gain.

On the upside, if the cross manages to consolidate above the 80.30/35 area, next resistance level could be found at the 80.50 zone ahead of 80.80, while immediate supports could be found at 80.00, the 79.70 region and 79.50.