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Forex: USD/JPY awaits BoJ around 93.50

USD/JPY is currently at 93.48, off fresh session highs at 93.64, after another sample of verbal inverention, this time coming from potentially BoJ incoming new chief Mr. Iwata, making the pair bounce from session lows around the 93.13. Nikkei index also jumps to session highs around the 11300 points, up +0.41% for the day so far. Later on will come key risk even of recent weeks in the form of BoJ monetary policy statement, expected around 03:30 GMT.

From the techincal view, Valeria Bednarik, Chief Analyst at Fxstreet.com says: “The hourly chart shows price around both 100 and 200 SMA’s in the 93.20/30 area, now turning into immediate resistance if price continues down. Technical indicators in the hourly chart are mostly neutral yet heading lower. In the 4 hours chart a slightly bearish tone is present, yet shows no actual strength: a break below 92.80 may be the trigger for a short term slide towards 92.00/40 price zone,” the analyst notes.

Valeria locates support levels at: 93.10, 92.80 and 92.40, while resistance levels at: 93.80, 94.10 and 94.45.

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