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Jan 04 - 04:55 PM

USD/JPY - Bad Day For Dollar, But Worse For Yen, Sees 132 Hurdles Cleared

By Randolph Donney  —  Jan 04 - 02:50 PM

  • USD/JPY up 1.2% and well above tenkan/50% Fibo hurdles at 132

  • The 132.71 current EBS high is by the 13-DMA, less porous than 10-DMA

  • Rally all on yen weakness after Tues's o/s, false support break

  • BoJ again conducting emergency JGB buying to cap yields nL4N33P12D

  • That as Japan PMI posted biggest fall in 2 years nZRN005QU8

  • And as PM Kishida & BoJ Gov Kuroda pressure firms to lift wages nL1N33P051

  • US ISM and JOLTS show labor tightness, but mfg sector weak nL1N33P150

  • Above 13-DMA at 132.72 rsst are 134.50/70 from Dec. 28 swing high & kijun

  • Would need a post payrolls close above kijun to worry about 200-DMA @136.37

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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