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Jun 10 - 01:55 PM

USD/JPY - Consildates US Jobs Rise, Eyes CPI, Fed For Test Of Key May High

By Randolph Donney  —  Jun 10 - 01:15 PM
  • USD/JPY's post-payrolls rally digested in a tight 156.60-7.19 range

  • Prices back above the 10-DMA, now support at 156.53

  • May's high by 158 eyed if US CPI and Fed events Wed lean hawkish

  • But May 1's 157.99 high is also by the last BoJ intervention that day

  • Specs might want backing from higher Tsy ylds to test intervention risk

  • BoJ Fri seen steady, with focus on QE reduction plans, H2 rate hikes

  • Next Tues's US retail sales could be seen as a demand litmus tests

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Refinitiv IFR Research/Market Commentary


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