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USD/JPY consolidates around 102.50

FXstreet.com (Córdoba) - After being rejected once again from the 102.90 at the beginning of the American session, USD/JPY lost over 60 pips as the greenback lost momentum across the board.

However, USD/JPY managed to hold above the 102.25 zone and bounced, to settle in a narrow range around 102.50. At time of writing, the pair is trading around 102.55/60, still up 0.3% on the day.

As for technical levels, immediate supports are seen at 102.05 (daily low) and 101.95 (200-hour SMA), while resistances could be found at 102.90 (highs May 20 &21) and 103.30 (high May 17).

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