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Jul 30 - 04:55 PM

USD/JPY - Rides Month-End, Pre-Payrolls Dollar Rebound's Coattails

By Randolph Donney  —  Jul 30 - 02:56 PM
  • USD/JPY well off 109.365 EBS low and up 0.27% in late NY trading

  • Recovery all driven by dollar's mo-end rebound after miserable week

  • Lower 30-day Bolli by the low, 109.295 cloud base also supportive

  • U.S. data mixed, 10-yr Tsy-JGB yield spreads near lowest since February

  • And June NFP beat on July 2 marked USD/JPY's 111.66 peak nL1N2P61VD

  • Raises the question of what counts for bullish U.S. data?

  • Resistance is by Thursday's high, tenkan and 10-DMA just shy of 110

  • Japan's expanding pandemic emergency nL4N2P61Z9 keeps JGB yields heavy

  • Monday features U.S. ISM manufacturing, services and ADP Wednesday

  • Friday's payrolls report is the main event, but market response key

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Source:
Refinitiv IFR Research/Market Commentary

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