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Forex: USD/JPY trading at support in 94.39/40

FXstreet.com (Barcelona) - The USD/JPY has been held in negative territory Friday amidst a resolution in Cyprus that has left currency markets in limbo during American trading. Having made several failed breaks towards the upside, the pair has now found itself entrenched at 94.39/40 in these moments, down a sizable -0.67% as hopes still run high of a bailout in the island nation.

Mataf.net analysts identify short-term supports at 94.36, down to 93.71, and finally the 92.87 handle. Regarding any manner of advance, resistive measures will activate if the USD/JPY moves towards 95.85, onto 96.68, and 97.34.

Cyprus? Really? Figures!

For almost a week, financial markets had traded at the pace of one of the smallest members of the EU, Cyprus. The island joined the group in 2004, officially adopting the Euro on January 2008, and with its 1.1M population has remained on the shadows of larger economies and territories.
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