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USD/JPY down to 108.50 amid Japan health minister's comments

FXStreet (San Francisco) - The USD/JPY completed a 85-pip decline from 109.35 to trade at yesterday's lows around 108.50 as the Yen got a hit from Japanese health minister that said he is in no rush to push new reform plan for GPIF.

Currently, USD/JPY is trading at 108.73, down 0.31% on the day, having posted a daily high at 109.39 and low at 108.52. USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.

USD/JPY sentiment

Japan’s Yasuhisa Shiozaki said "that he does not limit the timing of submission to the fall (Autumn)extraordinary parliamentary session," comments Ryan Littlestone from ForexLive. "There’s lots more going on bedsides this headline as US stocks are on the floor and bond yields are edging towards 2.50% again in 10′s. low so far 2.51%."

If the pair breaks below 10850, it will face supports at 108.35 and 108.20. On the upside, resistances are at 108.00, 109.20 and 109.40.

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