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May 06 - 03:55 PM

USD/JPY - Post-Payroll Gain Pared, Remains Firm On Widening Rate Differentials

By Paul Spirgel  —  May 06 - 01:50 PM

  • USD/JPY ending NorAm -0.2% at 130.50, Fri range 130.80-10

  • Pair rallied near o/n high to 130.71 after US payroll data

  • USD/JPY backs off post-payrolls high as front-end Euro$ rise nL2N2WY1E5

  • Extreme USD long has been exiting on recent rise toward 2022 high 131.25

  • Res 130.95 the Apr 29 high, then 131.25 the April 28 2022 high

  • Above 131.25 USD bulls target Mar 2002 high 133.88, then Jan 2002 high 135.2

  • Support at Friday low 130.10, 10-DMA 129.45, May 4-5 dbl bottom by 128.70

  • Next key event for traders will be US CPI ON May 11

For more click on FXBUZ


JPY Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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