By Randolph Donney — Jun 02 - 02:25 PM
USD/JPY down about 0.25% and stalled ahead of May's 20-year peak
Thur's 130.24 high on EBS is by the 76.4% Fibo of May's 131.35-126.37 drop
Tsy yields slightly lower after ADP miss, claims beats and pre-NFP, ISM Fri
Haven dollar and yen sold widely amid risk-on flows Thursday
Big rise off Monday's 126.86 low left prices due for consolidation
Focus now on whether U.S. can revive Tsy yield, Fed hike uptrends
Weekly tenkan prop and avg true range top are at 126.81/130.21
If NFP don't move prices much, next Fri's CPI will be the focus
Need 50bp Fed hikes past summer for upside an breakout nL1N2XP1BZ
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Chart Click here
Source:
Refinitiv IFR Research/Market Commentary