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.
See – Nonfarm Payrolls Preview: Forecasts from 10 major banks for May jobs report
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.”
