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Forex pairs in this Article » USD/JPY
FXstreet.com (Barcelona) - The early rise in Asian session to 78.53 high was then retraced to incur in losses at 78.32. The pair is now seen bouncing back to a flat level, at 78.41, but is being pressured right now.

The headline of the day is that IMF is in a collision course with Germany as Chief Lagarde is now pushing for less austerity and more time for Eurozone peripheral countries to meet their budget targets.

Moody's is concerned with Japan's debt outlook caused by the political stalement. The rating agency believes government debt purchases by the BoJ are "not the ultimate solution to low economic growth", wrote UBS analyst Gareth Berry.

"USDJPY has seen a sharp rally and while this is impressive the market has yet to close above its cloud resistance, today at 78.74/79.00", wrote Commerzbank analyst Karen Jones, pointing to supports at 77.45 and 77.15.
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