Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Apr 06 - 01:55 PM

USD/JPY - Big Losses Ahead For USD/JPY If Payrolls Can't Extend The Pre-Holiday Bounce

By Randolph Donney  —  Apr 06 - 11:45 AM

  • USD/JPY is off week's 130.64 low, but a bearish sub-132.24 Fri close looms

  • That level is where the weekly cloud base rises to next week

  • The daily cloud base and 50% of this week's 133.75-30.64 drop are @132.16/20

  • Prices have been above the weekly cloud base since March 2021

  • And this week's 133.75 high was rejected by the weekly tenkan at 133.77

  • A close below 132.24 could target March and Feb's 129.65/127.215 EBS lows

  • A break of 50% of 2020-21 uptrend at 127.68 would target the 61.8% @121.45

  • Ten-yr Tsy-JGB yields spreads are down 44bp from last Friday's high

  • This week's mostly well-below forecast U.S. data hastened that drop

  • But dollar shorts broadly were squared pre-NFP and holiday closures

  • Fri's NFP eyed, with 11 straight beats vs forecasts now on the line

  • US bank stocks up for a change today amid H2 Fed cuts pricing

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


  • eFXplus
  • End-user license agreement (EULA)


  • About
  • Contact Us


  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2023 eFXdata · All Rights Reserved