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USD/JPY rebounds off lows to 101.33/35

FXstreet.com (Barcelona) - The USD/JPY recently bounced off intraday lows of 100.96, in what has turned out to be a very volatile trading session thus far Wednesday.

According to the ICN.com Technical Analyst Team, “The pair’s move to the upside is still limited below Linear Regression Indicators and RSI tends to be negative. These catalysts are supported by stability below 102.50, therefore we hold on to our intraday negative expectations today.”

Briefing the technicals, Mataf.net analysts have calculated the next short-term supports for the USD/JPY at 101.73, then 101.19, and finally 100.79. On the ascension, a recovery higher will eventually lead to resistances at 102.67, then 103.07, and finally 103.61. At the time of writing, the pair is now trading at 101.34/35, or -1.00% off its opening.

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