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USD/JPY in a tight spot facing headwinds

FXStreet (Guatemala) - USD/JPY is trading at 115.53, down -0.06% on the day, having posted a daily high at 115.67 and low at 115.44.

USD/JPY remains in a tight range in a slow Asian session after a number of attempts to the upside and the 116 handle this week. Machinery orders have been released that were much better than expected, but as second tier data there was little reaction. Headwinds are approaching as failures stack up with lower lows.However, the fundamentals are still suggesting a lower yen for longer.

USD/JPY noteworthy levels

Current price is 115.54, with resistance ahead at 115.96 (Weekly Classic R1), 116.02 and 116.19 (Daily Classic R1). Next support to the downside can be found at 115.48, 115.20 and 115.00. Below here 114.80 will be a key supporting area ahead of the bearish gap at the start of this week’s business.

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