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USD/JPY pushes to fresh daily highs

FXStreet (Córdoba) - USD/JPY has advanced slightly Monday, reaching fresh daily highs at the beginning of the New York session, but still not able to pick up momentum to retest last week’s 6-year highs.

USD/JPY has risen modestly throughout the day, and printed a fresh daily high of 105.47 in recent dealings as the dollar recovers from post-NFP lows against the yen. US nonfarm payrolls showed the US added the fewest jobs in 8 months in August (142K vs 225K exp.), hitting the greenback across the board.

However, the setback of USD/JPY was contained by the 104.65 area and the pair managed to close the week above the 105.00 mark. At time of writing, the pair is trading at 105.40, recording a 0.31% gain on the day.

The calendar is light for the American session, but traders will be watching the Bank of Japan meeting minutes to be published next Asian session.

USD/JPY technical outlook

“The intraday outlook is rather negative, for a slide through 104.70, en route to 103.50”, said Stoyan Mihaylov, analyst at Deltastock. “Crucial on the upside is 105.70”.

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