The fact that EUR/USD is sitting within a 20 pips range exemplifies the lack of appetite so far today in the major currencies space. USD/JPY is arguably the only notable mover, down 0.6% to 136.50 levels at the moment:
There are a few factors at play as to why that is the case, so pick your poison:
- The resistance at the 200-day moving average (blue line), seen at 137.44 currently, is holding
- Good news for the Japanese yen ahead of the “shunto” wage negotiations results next week
- Large option expiries sitting between 136.50 and 137.00 rolling off later in the day
Elsewhere, the dollar is mostly little changed though the antipodeans are sitting slightly higher on the day. AUD/USD is up 0.4% to 0.6611 now as the Tuesday drop is arrested – at least for the time being. That said, all the key levels highlighted here yesterday are all in play for dollar pairs and things are likely to stay that way until we get to the US jobs report tomorrow.
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