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USD/JPY attempts to consolidate above 113.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    USD/JPY stretched higher and made fresh daily highs above 113.00, being the yen the only major that losing ground against a broadly weaker greenback.

    USD/JPY gained momentum during the American session and climbed to a peak of 113.15 before retreating slightly. Having spent the last hours consolidating near higher, USD/JPY is currently trading at 113.08, recording its first daily gain in three.

    USD/JPY levels to watch

    As for technical levels, next resistances could be found at 113.50 (Mar 8 high), 114.54 (Mar 2 high) and 115.05 (38.2% Fibo retracement of 121.68-110.97). On the flip side, supports are seen at 112.15 (Mar 1 low) and 111.88 (Feb 25 low) ahead of 110.97 (2016 low, Feb 11).
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