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Forex pairs in this Article » USD/JPY
The USD/JPY foreign exchange rate is last trading at 99.68 off recent session highs at 99.75 after the Tokyo open with Nikkei index up almost +1% above the 14300 points, and the BoJ minutes released, along with Japan tertiary industry activity down -0.4% as expected.

USD/JPY downward potential increasing

According to Valeria Bednarik, Chief Analyst at Fxstreet.com, the USD/JPY is currently trading “down below its hourly 100 SMA, acting as dynamic resistance around 99.60. The hourly chart presents a neutral stance, as indicators are flat around their midlines, while in bigger time frames the downward potential increases as the 4 hours chart shows indicators in negative territory. The pair however may see some short term spike higher particularly if local share markets advance today.”

USD/JPY key technical levels

Bednarik finds support levels at: 99.30, 99.00 and 98.60, while resistance levels at: 99.70, 100.10 and 100.40.
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