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Feb 08 - 04:55 PM

USD/JPY - Holds After Halving The Post-Fed And Jobs Shock Surge; CPI And BoJ Picks Next

By Randolph Donney  —  Feb 08 - 01:55 PM

  • Tues's 130.37 post-NFP pullback low halved the prior 128.08-132.90 rally

  • Mon's 132.90 high's just shy of 23.6% Fibo, 55-DMA and cloud base by 133

  • Prices up modestly Wed with Fed speakers keeping hikes on the agenda

  • Fed's growing data dependence & full dot plot hike pricing reduce headroom

  • Clearing c133 hurdles might require higher-than-f/c CPI Tues nL1N34O1IR

  • F/c already is for higher M/M inflation, so downside miss is a bigger risk

  • BoJ leadership pick from PM could skew BoJ normalization expectations

  • PM Kishida's skills outline may favor former Dep Gov Nakaso nL4N34O0OC

  • If resistance by 133 is closed above, the 200-DMA at 136.87 is a prospect

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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