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USD/JPY tries to settle above 109.00

FXStreet (Moscow) - USD/JPY touched the Asian high at 109.33 only to retrace towards current level of 109.12; the pair is trading with marginal gains on the day after having opened at 109.03.

Marching higher againd

JPY’s rise on the back of Abe’s unexpectedly aggressive comments was short-lived. USD/JPY is back above 109.00 and ready to resume its march towards 110.00 on the back of USD rally across the board. While earlier in Asia the pair got a boost from EUR/USD weakening caused by Draghi’s comments, further USD/JPY movements are likely to be shaped by speculative factors and US Durable Goods Orders report that is expected to show a substantial decline due to the slump in transportation orders. This may limit USD/JPY rise, but the upside trend remains well entrenched as long as the pair trades above 108.20 support. On the upside, the bulls have set their eyes at six year high of 109.46 ahead of reported offers at 109.50.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 108.89 with support below at 108.61, 108.17 and 107.89 with resistance above at 109.32, 109.60 and 110.04. Hourly Moving Averages are bullish, with the 200SMA bullish at 108.22 and the daily 20EMA bullish at 106.95. Hourly RSI is bullish at 59

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