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May 05 - 04:55 PM

USD/JPY - Patiently Awaiting Payrolls Friday To End Uptrend's Pregnant Pause

By Randolph Donney  —  May 05 - 02:36 PM
  • USD/JPY sees a second inside day within Monday's 108.90-9.695 range

  • ADP, PMI and ISM not far enough of course to cause breakout nL1N2MS1OJ

  • Puts the onus on Friday's NFPs report to energizes bulls or bears

  • Close above 106.94, 61.8% of March-April slide, would restart uptrend

  • Big 109-110 option expiries into mid-May, 1-, 2-wk vols falling

  • Cloud top on Thur matches Tues's 109.045 low on EBS favoring dip buyers

  • The 38.2% Fibo of the 107.48-9.695 rebound at 108.85 props

  • But Friday's 108.71 low is the on-close pivot point

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Source:
Refinitiv IFR Research/Market Commentary

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