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USD/JPY desperate to move away from 107.00

FXStreet (Moscow) - USD/JPY  is climbing higher in Asia. The pair started the day at 107.15 and managed it to 107.30 so far. The Asian high is registered at 107.35.

USD/JPY recovered from an early dip to 106.24 and finished Wednesday with marginal gains at 107.12. The pair poked at 107.37, but failed there as traders are in no hurry to sell JPY yet. Growing geopolitical tensions and concerns over the state of the global economy keep the safe-heaven JPY in demand. Things may change today if positive US economic reports (namely, Chicago activity index and weekly jobless claims) come out better than expected to support USD rally across the board. From the technical point of view, keep an eye at 107.00, once it is broken, the downside may extend towards 106.500 where importer demand should stop the decline. The initial resistance comes at 107.33/39

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 107.10; initial support levels at 106.82, 106.50 and 106.21 with resistance above at 107.42, 107.71 and 108.03. Hourly Moving Averages are mixed, with the 200SMA bullish at 106.83 and the daily 20EMA flat at 107.36. Hourly RSI is bullish at 55.

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