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Forex: USD/JPY above 96 on Tsunami's 2nd anniversary day

USD/JPY is currently at fresh session highs 96.24, +0.24% higher from previous weekly close, and a +1.40% from previous Asia-Pacific open, following much better than expected US NFP figure, the best in last 12 months. The pair printed fresh 3.5-year highs at 96.60 at the moment data was out, highest since Aug 2009, while Nikkei closed Friday in Tokyo up +2.64% shy of the 11300 points mark, highest since Sept 2008.

According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The hourly chart shows indicators heading lower, but price pushing higher as the candle develops, while moving average advance higher below current price, supporting more gains ahead,” the analyst suggests, adding: “Bigger time frames  present a stronger bullish momentum, backing up the shorter term view: above 96.70, further gains should be expected up to 97.20 over the upcoming sessions,” she concludes.

Valeria sees support levels at: 95.80, 95.50 and 95.20, while resistance levels at: 96.70, 97.20 and 97.55.

Forex Flash: USDJPY a buy on dips - UBS

UBS remains bullish on the USDJPY, suggesting a buy on dips in a 95-100 range now ahead of the first board meeting under the new leadership on April 3-4. The bank expects that if the new leadership is approved by the Diet this week, as widely expected, "it will be far more aggressive in its quantitative easing" they say.
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