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Hardy: USD pushing on key breakout levels in EURUSD and USDJPY

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Saxo's John Hardy discusses key US data that's out this Wednesday ahead of the nonfarm payroll figure on Friday. This includes the ADP national employment report and the ISM non-manufacturing survey, which is the largest of its kind of the US services sector.

Hardy is expecting a breakout, possibly in the next few hours, in both EURUSD and USDJPY as we get closer to key technical levels thanks to the dollar. He believes traders are being too cautious at the moment in selling the Japanese yen and thinks we are at a technical tipping point.