Forex: USD/JPY falls after US GDP revision
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USD/JPY
FXstreet.com (Barcelona) - The 82.20 area capped the market during the Asian session and then the USDJPY eased to just above the 82.00 mark before strengthening back to its highs ahead of the US Q3 GDP.
As expected, the US GDP Q3 release confirmed the upward revision from 2.0% previously. Actual data came in at 2.7%, slightly below 2.8%. In reaction to the publication, the market plunged back towards the 82.00 psychological level.
This (82.68/83.17) is tough near term resistance for the market we are not surprised to see the market stall here ahead of further gains very near term", wrote Commerzbank analyst Karen Jones, pointing to good support at 81.78 (April high) ahead of 80.63 (June high).
As expected, the US GDP Q3 release confirmed the upward revision from 2.0% previously. Actual data came in at 2.7%, slightly below 2.8%. In reaction to the publication, the market plunged back towards the 82.00 psychological level.
This (82.68/83.17) is tough near term resistance for the market we are not surprised to see the market stall here ahead of further gains very near term", wrote Commerzbank analyst Karen Jones, pointing to good support at 81.78 (April high) ahead of 80.63 (June high).
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