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Forex pairs in this Article » USD/JPY (New York) - The USD/JPY technical pair refused to hold onto the 101.00 level Friday, having surged above it earlier on robust US data.

In the United States, the Nonfarm Payrolls (June) came in at 195k, exceeding expectations of only 165K, and matching a figure of 195K previously. In addition, the Unemployment Rate (June) yielded 7.6%, which missed estimates calling for 7.5%.

USD/JPY cannot sustain 101.00 level

The USD/JPY foreign exchange rate is currently retracing its recent gains after peaking at 101.15 (intraday high), now easing back towards 100.92 in these moments, still up +0.84%. The analyst team cites the next short-term resistive measures at 100.92 (current levels), onto 101.48.

USD/JPY sitting below 101.23 cloud

According to Karen Jones, an analyst at Commerzbank, “The USD/JPY continues to sit just below the top of the 101.23 cloud, and also the previous uptrend, which now acts as resistance at 101.40. We also note the 13 count on the 240-minute chart. All 3 suggest that we should see initial failure here.”
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