FXStreet (Mumbai) - The USD was offered across the board after dismal US retail sales data, pushing the USD/JPY pair to a ten-day low of 119.27 and the 2-year treasury yield lower to 0.577%. Bearish break in USD/JPY The pair now trades below the key support of the symmetrical triangle at 119.43 levels. A 5 basis point drop in the two-year yield, which represents short-term rate hike bets could lead to a bearish daily close in the pair below 119.43. Ahead in the day, the positive action in the US equities could offer support to the USD/JPY pair, however, broad based USD weakness may not halt, given the drop in the rate hike bets. USD/JPY Technical Levels The spot now trades around 119.30 with the immediate support located at 119.00; under which 118.68 (Oct 2 low) could offer support to the pair. A break below the same could expose 118.36 (127.2% Fib E of 125.28‐119.837‐125.28). On the other side, resistance is seen at 119.43 (trendline resistance), followed by a major hurdle at 120.00 levels. For more information, read our latest forex news.