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Forex: EUR/JPY trades around 120.00 on the US session

FXstreet.com (Barcelona) - The EUR/JPY fell to as low as 119.50 on the European opening, counting almost with 1.00% in daily losses, but the cross was able to bounce back to the 120.00 handle, where it still quotes at.

The March Manufacturing PMI by ISM fell from 54.2 to 51.3, much lower than the market consensus of 54.1. ISM Prices Paid fell from 61.5 to 54.5, also below expectactions (59.8). The US construction spending beat consensus at 1.0% by rising 1.2% in February. In January, data had dropped by -2.1%. US March manufacturing PMI by Markit rose from 54.3 to 54.6, disappointing investors looking for a figure at 54.9.

On the downside, the EUR/JPY has supports at 118.99 (Feb-26 low) and 118.77 (Feb-25 low), while there is resistance at 120.88 (daily high) and 121.87 (Mar-27 high).

Forex: USD/JPY falls to 93.49/50

The USD/JPY fell off the 93.65 handle following the release of mixed economic data in the US. On the heels of the data, the pair collapsed to 93.42, where it managed to slow its decline. In these moments the cross is trading at 93.49/50.
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American equity markets open negative after Holiday weekend

The US Stock gave back some of recent weeks gains Monday, following a very soft opening. In the United States, ISM Manufacturing PMI (March) came in at 51.3, missing expectations of 54.1 In addition, Construction Spending (MoM) grew by +1.2% in February, beating estimates of only +1.0%. Finally, ISM Prices Paid (March) recorded a figure of 54.5, relative to projections calling for 59.8.
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