Forex Flash: Better-than-expected NFP figures would benefit USD/JPY – Rabobank

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FXstreet.com (Barcelona) - The Japanese yen continues its strong depreciation against the greenback on Friday, pushing the cross to levels last seen in July 2010 above the key level at 88.00, ahead of the US NFP figures.

According to Senior Currency Strategist Jane Foley at Rabobank, "Better US data today is also likely to bring fresh impetus into the rally in USD/JPY, while the strength of the momentum in that rally at present could mean that any pullbacks on poor data are short-lived. While few investors would argue against the trend in USD/JPY for the time being, we are of the view that the move is vulnerable to a correction during the 1st quarter this year. For now, however, support at USD/JPY 87/35 and resistance in the 89 area".



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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