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USD/JPY flattish on the open of Tokyo

FXStreet (Guatemala) - USD/JPY is trading at 106.83, down on the day having posted a daily high at 107.02 and low at 106.83.

USD/JPY is drifting slightly lower on the minute chart post the Tokyo open. The action today in Asia is likely not to unfold directly through the pair but there could be a catalyst for some activity around related events in China and some cross flow of movement in the RBA minutes scheduled for moments away. The Yen is likely to be attractive on any substantial misses in Chinas GDP results while the RBA minutes are less likely to create any dramas today. As noted previously, the pair is on a rebound on the 5th wave and the FOMC and indeed US data due this week could spark a fire in the pair.

USD/JPY hourly levels

Spot is presently trading at 106.83, and next resistance can be seen at 106.96 (Daily Open), 107.01 (Daily High), 107.05 (Weekly High), 107.11 (Hourly 200 SMA) and 107.20 (Daily Classic R1). Support below can be found at 106.78 (Yesterday's Low), 106.66 (Daily Classic PP) and 106.60 (Hourly 100 SMA).

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