USD/JPY bears yet to emerge within daily resistance to guard 131.00 By ross_burland USDJPY Technical Analysis Currencies Fed BOJ
The US dollar turned heavily bid on Friday following NFP.
''The May report supports the view that while the labour market remains firm, it continues to gradually slow,'' analysts at TD Securities said. ''We think today's report does not change the calculation for the , supporting their inclination to front-load interest rate hikes until it reaches a more neutral stance by the fall.''
Core prices likely stayed strong in May, with the series registering a second consecutive 0.5% MoM increase. A drag on inflation recently, we now expect used vehicle prices to be a contributor, advancing for the first time in four months. We also look for continued momentum in airfares and shelter inflation. Our MoM forecasts imply 8.4%/5.9% YoY for total/core prices.''
''The BoJ currently appears steadfast that it will not budge from its YCC control policy that is aimed at preventing the 10 year,'' analysts at Rabobank had previously argued.