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May 27 - 04:55 PM

USD/JPY - Breaks Out Of Cloud, May's Range On Brighter U.S. Prospects

By Randolph Donney  —  May 27 - 02:38 PM
  • Good jobless claims news lifts Treasury yields, speeds USD/JPY breakout

  • Prices well above cloud top and MAs, clearing May's prior 109.785 peak

  • New high at 109.925 on EBS is just shy of major resistance at 110

  • There are $1.365bln worth of 110 expiries on Friday nL2N2NE1P4

  • Fed tapering talk contrasts w Japan's BOJ being asked to ease, weaken yen

  • PCE, income and spending the focus Friday, but NFP June 4 the main event

  • Fed taper talk seen getting more serious if employment data are strong

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Source:
Refinitiv IFR Research/Market Commentary

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