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Jan 10 - 04:55 PM

USD/JPY - Wobbles After U.S. Jobs Report, Bears Emerge

By Robert Fullem  —  Jan 10 - 02:42 PM

• USD/JPY slightly lower after a 157.24-158.89 EBS range after US jobs data

Bearish tilt is due to US share drop, weak crosses and positon-squaring

• Yen buying anticipated ahead of midweek comments by BOJ hawk Dep Gov Himino

• Bets of Jan. BOJ hike building after article discussing wages, import costs.

• Follows comments from econ min. Ryosei Akazawa on BoJ policy coordination

• Support is 156.80-84 21-DMA and Dec. 20 close below nearby conversion line

• Post-Fed low of 156.02 and the 156.09 weekly cloud top is key support zone.

• Resist. is near 158.89 week's high, 159.20 and 159.67 upper Bollinger

• Tokyo is on holiday Monday
yen


(Robert Fullem is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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