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May 10 - 04:55 AM

USD/JPY - FX Traders Demand USD/JPY After U.S. Payroll Induced Setback

By Martin Miller  —  May 10 - 02:43 AM
  • Tokyo returned in full from Golden Week holidays, plenty pent-up demand

  • USD/JPY has seen a 108.47-108.99 range on Monday, according to EBS prices

  • Recent drop likely to be contained by thickening cloud support nL1N2MX09E

  • Daily cloud support currently spans the 107.23-109.19 region

  • USD suffered after payrolls shock, focus turns to inflation nL4N2MW0XO

  • USD/JPY, EUR/JPY 30-day log correlation under +0.5, weak relationship

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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