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USD/JPY bumps at 109.00 as bullish momentum waning

FXStreet (Moscow) - USD/JPY peeked above 109.00 for a fraction of a second and returned to the area below the pivot; currently the pair is trading at 108.95, off from the Asian low at 108.47.

Capped by 109.00

USD/JPY dipped below 109.99 on Thursday following weaker than expected US Durable Goods numbers that triggered some profit-takning on very stretched long USD/JPY positions. Japanese health minister Yasuhisa Shiozaki told the reporters that there is no hurry with GPIF reform and lended JPY additional support. Though the Minister changed her mind today, mentioning that the ref or is not intended to be postponed. While it is difficult to make head or tale of what the Ministry actually intends to do, traders felt that JPY is a sell case again. The pair is having hard time breaking above 109.00, though US GDP numbers published later today might provide the needed upside boost. From the technical point of view the support is seen at Asian low of 108.47, while the resistance comes at 109.00/11.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 108.89 with support below at 108.38, 108.01 and 107.51 with resistance above at 109.26, 109.76 and 110.13. Hourly Moving Averages are bullish, with the 200SMA bullish at 108.42 and the daily 20EMA bullish at 107.13. Hourly RSI is bullish at 52

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