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Mar 05 - 07:55 AM

USD/JPY - U.S. Jobs Data Could Fuel Even More USD/JPY Demand

By Martin Miller  —  Mar 05 - 05:46 AM
  • Market awaits U.S jobs data, a beat could fuel further USD/JPY demand

  • Very good USD/JPY bids on dips, Japan exporter offers on rallies abating

  • Spot saw biggest gain since Nov on Thu, now above huge Fibo nL2N2L30KI

  • Now above 108.23 Fibo, 61.8% retrace of the 111.71 to 102.60 drop

  • USD/JPY has seen a 107.82-108.52 range on Friday, according to EBS data

  • USD bulls running rampant in response to Fed's Powell nL2N2L301L

  • Bond fires smoulder, shares drop ahead of U.S. jobs data nL5N2L32G1

  • 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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