USD/JPY – 125 resistance holding for now

  • USD/JPY topside has been capped at 125.00 for now; decent offers resting between 125.00/10
  • Further gains should be limited ahead of NFP, but a good number could easily push the pair to a fresh yearly high
  • However, Japanese officials likely to express concerns should the Yen weaken too sharply
  • BoJ verbal intervention possible as well
  • 125.80 is the key level to watch now; while short-term support now lies at 124.50


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