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US Dollar Forecast: USD/JPY Vulnerable Ahead of NFP Report
USD/JPY extends the series of lower highs and lows from last week to register a fresh monthly low (146.23), but data prints coming out of the US may prop up the exchange rate as the Non-Farm Payrolls (NFP) report is anticipated to show another rise in employment. USD/JPY seems to have changed course after failing to test the July 1990 high (152.25), and the exchange rate may continue to give back the advance from the September low (144.45) as the 50-Day SMA (149.56) no longer reflects a positive slope. As a result, swings in risk sentiment may sway USD/JPY as the Bank of Japan (BoJ) looks poised to carry the ... (full story)