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Sep 01 - 03:55 PM

USD/JPY - Post-Payrolls Dive And Rise Keeps Long Carry Trade Alive

By Randolph Donney  —  Sep 01 - 01:50 PM
  • Wild post-jobs report dive to 144.44 and rise to 146.30 so far on EBS

  • Lows right by half of Aug's advance and near last week's lows

  • And prices unable to close below the pivotal 21-DMA at 145.21 last

  • Big drop then rebound in Tsy yields led the wild price swings

  • A close above Thur and Wed's 146.23/53 highs would eye the 147.375 peak

  • Something for everyone in Aug US jobs report, but PMI, ISM beat forecast

  • And Fed's Mester noted the labor market remains strong

  • No sign Japanese officials are looking to fight yen weakness near here

  • Focus next week is on ISM service, then CPI following week pre-Fed

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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