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USD/JPY retreats from fresh 6-year high at 108.86

FXStreet (Moscow) - USD/JPY retreated from 6-year highs to current 108.50 area.

Life after FOMC

Since the pair has already come over the key event of the week, and probably of the month, now we may possibly see the reserved range-trading for some time. The pair refreshed 6-year high at 108.86 in early Europe, before retreating to 108.50 area. Sellers’ interest is rumored around 108.90-109.00, and the buyers may defend the downside around 108.25/35. However, pay attention to the scheduled for tonight Fed’s Yellen speech. There are very few chances she would change her mind, and the tone of comments, but still be careful.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 107.95 with support below at 107.51, 106.64 and 106.19 with resistance above at 108.82 109.27, and 110.14. Hourly Moving Averages are bullish, with the 200SMA bullish at 106.85 and the daily 20EMA bullish at 105.69. Hourly RSI is bullish at 66.

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