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USD/JPY bought on dips; 109.00 in sight

FXStreet(Moscow) - USD/JPY is consolidating around 108.90. marginally higher the opening level at 108.88 after having dipped to the Asian lo at 108.55

Growth was too fast

JPY is supposed to be growing on the back of soured anti-risk sentiments. Poor readings from US manufacturing sector and heightened geopolitical tensions supported JPY demand across the board. While USD/JPY dipped below 109.00 level, the longer-term bullish trend remains entrenched as long as the pair sits above 108.20. Japanese importers are rumored to be buying USD/JPY around Asian lows at 108.55 and helped the pair to return towards 108.80. The pair might consolidate around current levels ahead of Friday’s Non Farm Payroll data. Later during the day keep an eye at 108.50 support and 109.00 resistance

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 109.29 with support below at 108.48, 108.06 and 107.25 with resistance above at 109.27, 110.53 and 110.95. Hourly Moving Averages are mixed, with the 200SMA bearish at 109.11 and the daily 20EMA bullish at 107.85. Hourly RSI is bearish at 28

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