Flows and Orders/FXWW News/USD/JPY

USD/JPY outlook: Always whippy on NFP day

  • The fundamental picture for USD/JPY remains quite bullish and market sentiment is similarly so.
  • Overall positioning remains long but more pronounced in the crosses.
  • Macros have been selling out of longer-term EUR/JPY longs.
  • AUD/JPY support at 89.50 is looking increasingly strong.

Conclusion: We can expect to see every level on multiple occasions on NFP day, as this pair is the bellweather for USD/Risk sentiment. Starting the day with a bullish tone but don’t be surprised if we see either edge of 99.50/101.00.

Leave a Reply

Your email address will not be published. Required fields are marked *