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Thomson Reuters
Sep 07 - 03:48 PM
USD/JPY - Tariff Threat Scuttles USD/JPY's Jobs Report Rebound
First appeared on eFXplus on Sep 07 - 01:30 PM
  • Trump's threat to up China tariff targets by $467bln caps USD/JPY
  • Pre-NFP dip below Cloud, 100-DMA reversed by strong U.S. jobs data
  • But rebound capped by 110-, 200-HMAs by 111.20 before Trump news
  • Initial sell-off to 110.74 as actual tariff threat was assessed
  • New post-GFC high in 2-yr Tsy-JGB spreads limiting dips for now
  • Close above 111.88 Fibo, below 100-DMA needed to exit recent range
  • Crosses more vulnerable: AUD/JPY below 61.8% of 2016-17 rise

Chart: Click here

Chart: Click here

Source:
Thomson Reuters IFR Markets

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