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Dec 02 - 05:55 PM

USD/JPY - Downtrend Takes NFP Detour After Getting 97% Of The Way To Targets

By Randolph Donney  —  Dec 02 - 01:55 PM

  • USD/JPY fell 0.5% after a wild ride from 134.73 to 135.98 on EBS

  • Hottish jobs data triggered a 134.05-5.98 rally as Tsy ylds rebounded

  • Fri's high was capped at 38.2% of the Wed-Fri Powell-led drop

  • Prices fell back, finding some support by the 200-DMA at 134.52

  • Today was the first day it traded below the 200-DMA since Feb. 2021

  • Initial rebound in Tsy yields receded, weighing on the dollar

  • Friday's low completed 97% of a 151.94-132.46-55 tech targeted drop

  • ISM non-mfg Monday and Dec. 13, 14 CPI and FOMC now key nL1N32S1AI

  • Markets not buying Fed guidance rates to stay high through 2023

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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