USD/JPY recovers from 101.06

By FXstreet.com | July 10, 2014 AAA

FXStreet (Córdoba) - The USD/JPY bottomed on Thursday at 101.06, hitting the lowest price in seven weeks but then bounced to the upside, after Wall Street opening bell, trimming losses.



From the lows the pair rose to 101.32 and currently is hovering around 101.30, down 0.31% for the day, headed toward the fourth decline out of the last five trading days.



USD/JPY rebounds near 101.00



The pair rebounded and turned to the upside, after falling near 101.00, for the first time since late May.



“USD/JPY is holding above Japanese semi-official bids ahead of 101.00, protecting the very important support level at 100.75/80. A 100.75 barrier is rumored and will likely be protected strongly if the opportunity presents itself”, commented Jamie Coleman from FXBeat.



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