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Jun 06 - 01:55 PM

USD/JPY - On Hold Ahead Of Friday's Payrolls, Next Week's Fed, BoJ And US CPI

By Randolph Donney  —  Jun 06 - 01:25 PM
  • USD/JPY ran into resistance ahead of Wed & Tues's 156.48 highs

  • Day's 155.36 low made on BoJ's Ueda QE tapering talk pre-next week's meet

  • Dollar slightly hobbled by above-f/c jobless claims pre-payrolls Fri

  • Might need a solid jobs report to push past week's high & nearby 10-DMA

  • The jobs report come as Tsy yields probe key props by May's lows

  • Bigger hurdles are late and early May's 157.71/99 peaks

  • Those are by the last BoJ intervention point on May 1

  • Support from the 55-DMA, Fri by 154.68. That MA caught May & June lows

  • US May CPI on June 12 is the main data event next week

  • Market still favoring two Fed cuts by year-end and two BoJ hikes

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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