By Randolph Donney — Feb 06 - 02:20 PM
Corrects headline to Fed-BoJ from Fed-BoE
USD/JPY rose 1.1%, extending Fri's post-NFP surge
High at 132.90 on EBS is by 23.6% of 151.94-127.215 drop at 133.05
Yen weakened by reports likely new BoJ Gov least hawkish nL1N34L0D7
Allows 2-yr Tsy-JGB yld spread to rise 14bp to highest since November
The falling 55-DMA will be near the 133.05 Fibo mid-week
Focus now on Fed Chair Powell's speech on Tues after stellar data
Also Tues's State of the Union Address by Biden eye for geo-pol risk
A 131.20-1.51 gap from Fri's high to Mon's low might be get filled
But the downtrend from Oct's 32-yr peak looks to have reversed
Fibo and 200-DMA hurdles at 136.66/81/86 are plausible M-T targets
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary