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Feb 03 - 04:55 PM

USD/JPY - Soars Toward BoJ-Day Spike High On Shockingly Hot US Data

By Randolph Donney  —  Feb 03 - 01:35 PM

  • USD/JPY up nearly 2% on huge US jobs nL1N34I2TY and ISM beats nN9N32B01A

  • Prices past the recent downtrend line, 30-DMA and daily Kijun hurdles

  • And nearing Jan. 18's BoJ meeting day spike high at 131.58 on EBS

  • Nearly 25bp of Fed hikes priced back in by 2024 after data shockers

  • Markets still on the watch for a BoJ move to let JGB yields rise more

  • But hawkish shift in Fed expectations is a more important factor for now

  • First close above the kijun at 131 since 148.26 Nov. 2 close is possible

  • Above the 131.58 spike high are the 55-DMA and cloud base at 133.47/89

  • Rising 55-WMA and falling 10-WMA are converging near 132 nL1N34J1FD

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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