fxstreet.com 04 Feb, 2021 02:15 am

USD/JPY bull's last breaths before the big slump?

USD/JPY bull's last breaths before the big slump?
USD/JPY has been in a sideways range between 104.92 and 105.11 between the European and US range, In Asia, the price has is even tighter between the 1

06 as the market lacks a catalyst ahead of the economic data showdown in the US Nonfarm Payrolls at the end of the week.Further economic data has given hopes of a faster recovery in both the eurozone and US.Then, in economic data from the nation, as a potential prelude to the jobs data on Friday,  the US ADP private-sector employment was stronger than expected, rising by 174k in January.The risk-on sentiment was underpinned in overnight trade with positive political news in the ex-governor of the European Central Bank accepting the invite to become Italy's Prime Minister.

6%YoY), with core CPI rising +1.At the same time, the yen's net position has also declined after their recent push to the highest levels since October 2016.

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