USD/JPY bulls tiring ahead of critical recovery target?

By FXStreet USD/JPY has been in recovery in the opening of Tokyo fro the downside that kicked off the day in early Asia when the Yen rallied amidst risk aversion.

The weekend news was the G20, and while the outcome suggested that markets are making a worse situation of the global economy than what it really is, there remain big concerns over the EU and subsequent ramifications for Global markets. Mervyn King, former BOE Governor, was reported in the Telegraph from his new book to have said that the eurozone is doomed to fail and will lurch from crisis to crisis unless it is broken up.

For the main headlines of the G20, see here.

We have had a series of data for Japan in the open for the week that could be ‘ evidence of slowing Japanese economy‘. While, for the week ahead, the main focus will be on China’s PMIs and the US nonfarm payrolls.

while the economy is expected to add a relatively modest 168K jobs in February with the unemployment rate that should rise modestly, climbing to 5.0% from 4.9%. “The overall tone of this report should be weak, reflecting the slowing in underlying US economic …read more

Source:: FX Street