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Jun 08 - 04:55 PM

USD/JPY - Inside Day After Jobs Data Whipsaw And Ahead Of CPI

By Randolph Donney  —  Jun 08 - 02:35 PM
  • USD/JPY was stuck inside Monday's modest 109.19-635 range on EBS

  • Prices up despite 10-yr Tsy-JGB yield spreads lowest since March 11

  • And 10-yr Tsy yields lowest since May 7, day of huge April NFP miss

  • Record surge in U.S. job openings, but hires rise slowly nL2N2NQ1LR

  • Fed can claim slow progress toward pre-pandemic employment and stand pat

  • And U.S. inflation is dollar negative if it doesn't prompt rate rises

  • Options market suggests 109.00-50 range trading into Thur's CPI

  • Cloud top and 50% Fibo of April-June rise support at 108.90

  • The 61.8% at the 108.565 May 25 key low is major support

  • Thursday-Friday twin peaks at 110.325 guard above 110 expiries

For more click on FXBUZ

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Refinitiv IFR Research/Market Commentary


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