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Jan 08 - 04:55 PM

USD/JPY - Dueling Havens Hit Rebound Impasse At 55-Day Moving Average

By Randolph Donney  —  Jan 08 - 03:04 PM
  • USD/JPY's early rise to pivotal 55-DMA caps despite NFP, fiscal risk flows

  • Prices look set to close above the kijun at 103.59 & 103.60 post-NFP low

  • Late setback in S&Ps gains saw haven buying of both dollar and yen

  • Risk-off move touched off by Senate stimulus outlook rethink nW1N2II01X

  • Close above the 10-WMA and 55-DMA at 103.83/4.08 on EBS is key to rebound

  • Daily cloud base and the down TL from March, come Monday, are at 103.33/38

  • 23.6% and 38.2% Fibos of March-January slide at 104.75/6.08 are M-T hurdles

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Source:
Refinitiv IFR Research/Market Commentary

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