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Feb 05 - 06:55 AM

USD/JPY - At A Major Crossroads As U.S. Jobs Data Looms

By Martin Miller  —  Feb 05 - 04:49 AM
  • Where USD/JPY closes Fri in relation to 200-DMA, 105.60, key for direction

  • Dollar hit new multi-week highs versus yen ahead of U.S. data nL4N2KB171

  • Offers gobbled up on recent moves up but Japanese exporters offers remain

  • FX traders can protect against a big USD/JPY surge nL1N2KA0T7

  • But they should also beware of a potential USD/JPY "bull trap" nL1N2KB0OD

  • USD/JPY has seen a 105.33-105.70 range so far Fri, according to EBS prices

  • USD/JPY, EUR/JPY relationship broken, 60/30-day log correlations under +0.50

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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