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Apr 10 - 08:55 AM

USD/JPY's NFP Gains Aided By New BoJ Governor Setting Stage For Normalization

By Randolph Donney  —  Apr 10 - 07:35 AM

  • USD/JPY's is near Mon's 132.80 post-NFP rally peak by the 55-DMA

  • Renewed gains as new BoJ Gov Kazuo Ueda hints at policy changes coming

  • Ueda signals no quick shift in policy, but sees progress on inflation goal

  • Main USD/JPY driver of rebound was rise in Tsy yields after decent jobs data

  • Prices now well above the 21-DMA at 132.20 with Mon's 132.80 EBS high

  • A close above there and nearby cloud base at 132.16 would be bullish

  • Yen broadly weaker after Ueda's hints at coming normalization

  • The 55-DMA at 132.91 is the nearby hurdle, then the 100-DMA at 133.40

  • The macro and Fed policy focus is Wednesday's US CPI

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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