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USD/JPY hits fresh lows after US PMI

FXStreet (Córdoba) - USD/JPY extended its pullback from above 110.00 and hit fresh daily lows during the New York session as the greenback suffered on the back of disappointing US ISM manufacturing PMI.

The US manufacturing PMI by ISM fell to 56.6 in September from 59.0 the previous month, below the 58.5 reading expected. USD/JPY dropped to a low of 109.25 but found support and it has recovered some ground most recently. At time of writing, the pair is trading at 109.50, just a few pips below its opening price.

The US dollar finally broke above the 110.00 mark versus the yen and scored a 6-year peak of 110.07 earlier on the day.

USD/JPY technical levels

In terms of technical levels, USD/JPY could find immediate resistances at 110.07 (2014 high Oct 1) and 110.33 (Aug 19 2008 high). On the other hand, supports are seen at 109.25 (Oct 1 low) and 109.18 (Sept 30 low).

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