Services swell but not enough to knock out 112.50 in USDJPY

Maybe a second wind will take it through but it's holding firm thus far

112.48 is the high following the ISM services data. Good survey data all round, save for the employment numbers. It's not a collapse but could bring added nerves to the NFP Friday, though that may be offset by the inflation gauge here.

Watching USDJPY on my 15 chart, it's hitting some decent selling from 112.45. Don't rule out a break but for now but 112.50 is holding fast (watch it break as soon as this is published though ;-) ).

USDJPY H4 chart

That trend line comes in at 112.95, right where we'll find 113.00 protection so that will be the next focus should we break up here.

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