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USD/JPY briefly spikes above 145.07 on buoyant US jobs report
As just noted in the previous update, the US November Jobs report was much better than forecast and that sent the dollar scrambling higher across the board. The EUR/USD broke down below a technical support level at 1.0764 and the GBP/USD has followed a similar path. At the same time, the USD/JPY spiked on this news. The USD/JPY lifted above 145 and perhaps potentially more importantly above 145.07. The high seen was set at 145.21, but it has immediately backed off from there now. The move above 145.07 could have tripped a few, very short term stops, but that cannot be confirmed here. That US jobs data was certainly good, but was it good enough to reverse the latest trend in the dollar versus the Japanese currency? The USD/JPY is currently at 144.65
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