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USD/JPY pullback so far propped by early Asia low by 119.60

  • Post NFP, USD-JPY yield spreads fall & stocks (N225 futures) rise in partial offset

  • Early Asia low by 119.60 supports USD/JPY pullback on payrolls so far 

  • Prices merely reverted toward 10-100-DMAs in the 119.37-55 range

  • Fed needs more data to end consolidation, rate rise still iffy for Sept 

  • Neither BOJ nor Abe govt in hurry to launch QQE3, but Oct strongest bet

  • Market Data
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