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USD/JPY rebounded from monthly lows, but retreats again

FXStreet (Moscow) - USD/JPY refreshed monthly low, posting 106.75 at the open, before rebounding to 107.30; currently it is trading at 106.90.

The pair refreshed monthly low today at the day start, as the market is still full of doubts whether the Fed is ready to hike the interest rates earlier than previously expected. The recent comments from the Fed’s Fisher only exacerbated the fears. The thing is that the IMF revised lower its global growth forecasts, and according to the Vice Chairman Fisher, Fed may take it into account when deciding on the interest rates. This issue may continue to move the markets in the nearest days, thus, pushing the pair lower with initial target at 106.52 support.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 107.07; initial support levels at 106.52, 106.23 and 105.69 with resistance above at 107.38, 107.92 and 108.22. Hourly Moving Averages are mixed, with the 200SMA bearish at 108.35 and the daily 20EMA bearish at 107.95. Hourly RSI is bearish at 48.

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