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USD/JPY attempting to go back above 109.00

FXStreet (Moscow) - USD/JPY touched 108.66 session low in late Asia, and resumed the rise again reaching 108.90 area in Europe.

New triggers tonight

Last week was packed with key events having big impact on the pair, thus, lower volatility in the coming days is not ruled out on the back of lighter economic calendar. The yen fell to August, 2008 low against USD last Friday, and although it retreated to 109.00 area by the end of trading week, now the chances to see new multi-year highs are growing. Since the recent FOMC meeting hinted on possibility of earlier rate hike provided better economic picture, the market will pay special attention to US reports. Tonight’s housing data is in focus.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 109.03 with support below at 108.59, 108.14 and 107.70 with resistance above at 109.48, 109.92 and 110.37. Hourly Moving Averages are bullish, with the 200SMA bullish at 107.52 and the daily 20EMA bullish at 106.26. Hourly RSI is bearish at 49.

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