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Feb 05 - 03:55 PM

USD/JPY - Bulls Run Into Offers Near 200-DMA, After U.S. Payroll Misses

By Paul Spirgel  —  Feb 05 - 01:36 PM
  • USD/JPY pre-NFP gains reversed ends NY -0.17% at 105.37, Fri range 105.77-33

  • NFP miss, revisions clouds US growth view nL1N2KA34D, shorts safe for now

  • Disappointing jobs data a temporary setback in USD rally vs yen nL1N2KB1V6

  • Close above 50% Fib at 105.38 bullish, 200-DMA at 105.60 bruised but holding

  • Average spec selling price from March to January is at 106

  • Range break during recent IMM reporting period likely saw JPY longs cut

  • Bears need a move below 10-DMA supt at 104.64, 100-DMA 104.42 to slow bulls

For more click on FXBUZ


JPY Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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