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May 02 - 10:55 PM

USD/JPY - Pares Losses As Traders Look Ahead To US Jobs Data

By Krishna K  —  May 02 - 08:50 PM
  • USD/JPY recovers some ground as some demand surfaces below 153.00 in Asia

  • Rallies from 152.88 low as shorts square positions ahead of U.S. NFP Fri

  • Dollar upside limited as Japan interventions saps confidence of yen shorts

  • Fed indicating that it is still leaning towards a dovish stance weighs

  • Japan holiday Fri, Mon; markets thin, traders remain on intervention watch

  • Wide U.S.-Japan yield differential, BOJ's still-easy policy limit JPY rise

  • Support 152.61, 38.2% Fibo of Dec-April rally; resistance 153.90-154.00

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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