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Mar 31 - 04:55 PM

USD/JPY - Off Highs By Key Hurdles As Mo-End, Soft U.S. Data Weigh Pre-Payrolls

By Randolph Donney  —  Mar 31 - 02:35 PM

  • USD/JPY's fell back from Friday's 133.60 recovery high on EBS

  • That high is by middle of March's big risk-off banking angst slide

  • That 50% Fibo and kijun at 133.77 is by the falling 100-DMA at 133.89

  • Tsy yields fell on US PCE, spending and Mich sent, inflation expectations

  • Friday's 132.60 low by 55-DMA and cloud base support key pre-ISM, NFPs

  • Month-end flows also likely lifted yen after recent risk-on pullback

  • IMM specs and options show downside USD/JPY risk if banking angst resumes

  • Thur's Fed balance sheet data showed those derisking flows subsiding

  • BoJ April 28 eyed for M-T YCC tweak, with Tokyo core CPI up again

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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