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May 04 - 04:55 PM

USD/JPY - Dollar Edges Out Yen In Haven Race, ADP And ISM Services Up Next

By Randolph Donney  —  May 04 - 02:39 PM
  • Inside day for USD/JPY holds above 109 and better props at 108.83-90

  • Risk-off session boosted haven USD and yen, but latter less so

  • Focus now Wed's ADP, ISM services after supply-chain skewed ISM mfg

  • Bulls need a close above 61.8% of 110.97-7.48 EBS dive at 109.64

  • Breached by Monday's 109.695 high but close well below it

  • Vols, risk/reversal, expiries point to range trading mostly above 109

  • 38.2% of 107.48-9.695 rebound, 21-DMA & Wed cloud top are at 108.83-85

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Source:
Refinitiv IFR Research/Market Commentary

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