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Jun 02 - 05:55 PM

USD/JPY - Stalled Shy Of May's 20-Year Highs, Dollar Needs NFP, Fed Help

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

    For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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