USD/JPY to reach year highs at 110.97 on strong NFP figures – OCBC

Economists at OCBC Bank stay negative on the Japanese yen. The USD/JPY pair is expected to test year highs at 110.97 on strong Nonfarm Payrolls report.

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Positive bias

“Look for a potential test of year-to-date highs of 110.97 if NFP posts a strong showing.”

“Immediate supports at 110.00 and then 109.30.”