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Apr 01 - 06:55 AM

USD/JPY - Might Be Capped Below 111 Barriers Until U.S. NFPs

By Martin Miller  —  Apr 01 - 05:18 AM
  • Dollar's bullish March likely to spill over into April nL1N2LT0UP

  • USD/JPY chart very positive, growing scope for March 2020 highs nL1N2LU0EZ

  • But expect a robust defence of large option barriers at 111.00

  • Spot will likely be subdued until March U.S. NFPs are released on Friday

  • USD/JPY has seen a 110.57-110.83 range on Thursday, according to EBS data

  • Expect buying on dips near 110.50 from Japanese importers and investors

  • USD/JPY, EUR/JPY 30-day log correlation remains under +0.5

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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