Forex: USD/JPY settles below 84.00
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USD/JPY
FXstreet.com (Córdoba) - After reaching a fresh 8-month high of 84.31 at the beginning of the day in the wake of Japan's Liberal Democratic Party victory, the USDJPY turned lower and steadily retraced intraday gains, although the setback was contained during the NY session by the 83.60 area.
Even though the yen managed to trim losses, it remains vulnerable amid expectations the BoJ would ease its policy further later this week. USDJPY is currently trading at the 83.80 area, still 0.4% above Friday's close.
On the upside, immediate resistances are seen at 84.30, 84.55 (interbank high) and 83.80, while on the downside, supports could be found at 83.60 (intraday low), 83.30 (Dec 14 low) and 83.15 (Dec 13 low).
Even though the yen managed to trim losses, it remains vulnerable amid expectations the BoJ would ease its policy further later this week. USDJPY is currently trading at the 83.80 area, still 0.4% above Friday's close.
On the upside, immediate resistances are seen at 84.30, 84.55 (interbank high) and 83.80, while on the downside, supports could be found at 83.60 (intraday low), 83.30 (Dec 14 low) and 83.15 (Dec 13 low).
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