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USD/JPY testing the 101.00 barrier

FXstreet.com (Barcelona) - The USD/JPY has surrendered its grip on the 101.00 level at the onset of US trading Monday, testing this key region in these moments.

According to Research Analyst Gareth Berry at UBS, Despite the recent pullback in the exchange, “We still look for the USD/JPY to reach 110 by end-2013 and we do not need a JGB market rout to get there.”

Briefing the technicals, Mataf.net analysts have calculated the next short-term supports for the USD/JPY at 100.17, ahead of 99.48, and finally 98.31. Conversely, a paring of recent losses will drive the pair towards resistances at 102.03, then 103.20, onto 103.89. At the time of writing, the pair is now trading at -0.09% below its opening.

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