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Forex pairs in this Article » USD/JPY (Edinburgh) - The bid tone around the Japanese yen is dragging the USD/JPY to the mid 102.00s at the end of the Asian session on Friday.

USD/JPY supported at 102.00

The pair found decent support around the 102.00 handle along the week although the dominating risk-off trade prevented it to recover the 103.00 handle so far. Japanese docket today showed an auspicious 18% yearly gain from Housing Starts at 1.055 million in December, exceeding market forecasts. “USD/JPY buying momentum may return, perhaps ahead of the NFP report and ISM data from the US next week”, argued analysts at BTMU.

USD/JPY levels to watch

At the moment the pair is down 0.23% at 102.50 facing the next support at 102.03 (low Jan.30) ahead of 101.85 (low Jan.29) and then 101.77 (38.2% of 95.81-105.45). On the upside, a break above 102.89 (high Jan.30) would open the door to 102.98 (38.2% of 104.93-101.77) and finally 103.05 (daily cloud top).
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