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USD/JPY not ready for 110.00 yet

FXStreet (Moscow) - USD/JPY started the Asian session at 109.74 and retreated towards the intraday low at 109.54 on the back of technical correction.

Hesitant below 110.00

On Friday USD/JPY recovered the losses that it had incurred during previous two trading days. The upside dynamic was caused by better than expected US Non Farm Payroll data and, as a consequence, USD growth across the board. The pair finished the week with about 40 pips gain, though still below 110.00 resistance. The key event of the week for JPY – BOJ monetary policy decision is scheduled on Tuesday. While no rate change is expected, Kuroda comments might shed some light on what the central bankers think of recent JPY decline. On the intraday basis keep an eye at 110.00 on the upside as strong offers located there are likely to stop the bulls; and 109.50 on the downside.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 109.34 with support below at 108.76, 107.77 and 107.19 with resistance above at 110.34, 110.91 and 111.91. Hourly Moving Averages are bullish, with the 200SMA bullish at 109.15 and the daily 20EMA bullish at 108.08. Hourly RSI is bullish at 61.

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