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USD/JPY remains contained by 103.50

FXStreet (Córdoba) - The USD/JPY trades little changed on the day after yesterday's pullback was contained by the 103.55 zone.

The dollar and the yen were the main beneficiaries in the FX market in a risk averse environment amid reports Russia had invaded Ukraine. The USD/JPY retreated somewhat but losses were short-lived with the 200-hour SMA offering support on dips.

The pair managed to bounce toward the 103.85 zone afterwards and it is currently trading at 103.80, a few pips above its opening price.

USD/JPY levels to watch

As for technical levels, the pair could find immediate supports at 103.68 (200-hour SMA), 103.50 (Aug 22 low) and 103.08 (Jul 30 high). On the other hand, resistances are seen at 103.84 (Aug 28 high), 104.16 (Aug 26 high) followed by 104.27 (Aug 25 high) and 104.84 (Jan 23 high).

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