USD/JPY extends pullback from intraday top, fails to extend Friday’s winning streak. Upbeat US employment figures, hopes of President Biden’s $2.25 trillion stimulus fail to please bulls amid Easter Monday holiday. S&P 500 Futures, Nikkei 225 offer positive start to the week, US 10-year Treasury yield extend Friday’s weakness. Risk catalysts remain as the key but US ISM Services PMI can offer intermediate moves. USD/JPY drops towards the intraday low of 110.60 as Tokyo opens for Monday’s trading. In doing so, the risk barometer fails to portray the market mood backed by Friday’s welcome US data and the recent optimism over US President Joe Biden’s $2.25 trillion infrastructure spending. However, off in major Asian bourses, namely Australia, New Zealand and China, seem to restrict the quote’s latest moves. Republicans join the US business lobby and show readiness to conquer Biden’s optimistic infrastructure spending plan due to a tax hike. However, recent comments from the Biden Administration suggest the Democratic Party member’s readiness to use Presidential power to push for the key relief package. Elsewhere, the US economy has been flashing upbeat readings off-late, which in turn strengthens the global optimism as being the world’s economic leader. On Friday, US Nonfarm Payrolls surged by 916K and the US Bureau of Labor Statistics also revised up the figures for February and January while announcing March’s details. Also on the risk positive side could be the faster vaccinations and hopes of further stimulus. During the weekend, the ruling Liberal Democratic Party’s secretary-general Toshihiro Nikai said in a television program that Japan may need to compile a supplementary budget for the current fiscal year to combat the economic blow from the coronavirus pandemic. On the contrary, the US-China tussles and the covid woes in Europe, not to forget fears of the virus strain, test the risk-on mood. Also challenging the sentiment could be the US 10-year Treasury yields that seesaw around January 2020 tops. Amid these plays, S&P 500 Futures rise 0.50% whereas Nikkei 225 prints 0.67% intraday gains by the press time. Looking forward, risk news will be the key to watch ahead of the US ISM Services PMI for March, expected 58.5 versus 55.3 prior. Read: US Services Purchasing Managers’ Index March Preview: Expectations are high Technical analysis Friday’s bullish spinning top and sustained trading above January 2020 top near 110.30 keeps USD/JPY buyers hopeful. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: XAU/USD to face stiff resistance at $1736 after double-bottom reversal FX Street 2 years USD/JPY extends pullback from intraday top, fails to extend Friday's winning streak. Upbeat US employment figures, hopes of President Biden's $2.25 trillion stimulus fail to please bulls amid Easter Monday holiday. S&P 500 Futures, Nikkei 225 offer positive start to the week, US 10-year Treasury yield extend Friday's weakness. Risk catalysts remain as the key but US ISM Services PMI can offer intermediate moves. USD/JPY drops towards the intraday low of 110.60 as Tokyo opens for Monday's trading. In doing so, the risk barometer fails to portray the market mood backed by Friday's welcome US data and the recent optimism… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.