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Aug 05 - 04:55 PM

USD/JPY - Week's Losses Erased, Solid Jobs Report And Response Key Friday

By Randolph Donney  —  Aug 05 - 02:20 PM
  • Prices at highs for the week after Thur's ADP dive and Fed/ISM rebound

  • Rally from 108.725 Wed low on EBS helped by big drop in continued claims

  • Prices nearing natural resistance near 110, kijun & 30-DMA at 110.19 next

  • Last week's 110.58 is the weekly on-close pivot point

  • Intraweek dip buyers are looking for an end to 5-weeks of lower highs

  • NFPs f/c near 880k vs 850k in June, but reaction may be as key as level

  • July's 111.66 trend high came on day the strong June NFP were release

  • Fell from 111.66 to 108.725 since then as Treasury yields continued to fall

  • Rate hikes being priced in again after Fed speakers this week nL1N2PB1FO

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Source:
Refinitiv IFR Research/Market Commentary

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