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Aug 04 - 05:55 PM

USD/JPY's Recovery In Jeopardy If NFP Report Can't Bolster Treasury Yields

By Randolph Donney  —  Aug 04 - 02:00 PM

  • USD/JPY fell with Tsy yields as recession fears persist pre-NFP Friday

  • Haven yen also boosted by risk-off flows from China's military actions

  • Japanese, Taiwanese defense forces reacting to China threats nL1N2ZG03C

  • USD/JPY highs Wed & Thur by falling 200-HMA, with 50-DMA, Kijun beyond

  • USD/JPY rallied after last two NFPs reports, but may not Fri nL1N2ZG1CZ

  • Most Fed speakers this week warning against pricing in 2023 rate cuts

  • But USD/JPY will be in trouble if yields don't rise on Fri's jobs data

  • BoE's hike, 13.3% inflation & recession f/c nU8N1A4002 sour risk mood

  • Hourly and daily cloud bases at 132.47/1.68 support ahead of payrolls

  • Rebound from 100-DMA/23.6% Fibo by Tues's trough at risk while below 134

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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