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Forex Flash: USD/JPY looks neutral ahead - BTMU

FXstreet.com (Barcelona) - Bank of Tokyo Mitsubishi UFJ analysts note that USD/JPY looks neutral ahead and they see spot moving between a range of 94.00-97.00.

They begin by noting that Kuroda´s regime change was well beyond market expectations. However, they feel that other dollar buying factor may be required for further USD/JPY upside. With the especially weak NFP report this afternoon, they believe that the BoJ’s monetary easing will limit yen upside potential. They write, “Any dips for USD/JPY below the 95.00-level will likely encourage strong buying activity.”

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The US stock market moved definitely lower Friday after lackluster US data. In the United States, the Nonfarm Payrolls (March) were reported at 88K, against expectations of 200k. Meanwhile, the Unemployment Rate (March) came in at just 7.6%, beating consensus estimates of 7.7%.
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Forex Flash: Euro rally more to do with JPY plays than Draghi speech - BBH

Brown Brothers Harriman analysts believe that the Euros rally after touching new yearly lows seemed to be largely a product of plays against the Yen, rather than something particularly inspiring from Draghi.
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