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May 05 - 04:55 PM

USD/JPY - Rebound On Jobs Beat And Break In Bank Angst Capped By First Hurdles

By Randolph Donney  —  May 05 - 02:40 PM
  • USD/JPY lifted by jobs data and a let-up in banking angst

  • Two-yr Tsy ylds up 19bp and erasing Thur's risk-off tumble

  • Haven yen also sold broadly as flight-to-safety flows reversed

  • Fri's 135.125 high on EBS is by 38.2% of week's 3% slide & 200-HMA

  • A close above 135.13 is now needed to open up more retracements

  • May require banks recovery persist and US CPI Wed lift yields more

  • No close below the 134.21 kijun Thur, but tenkan is above at 135.39

  • Major May, March and Dec highs at 137.78/90/8.18 daunting resistance

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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