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Forex: USD/JPY slumps on 'bogus' rumors

FXstreet.com (Córdoba) - The USD/JPY dropped over 70 pips in a matter of minutes amid rumors of explosions in the White House in the Twitter atmosphere. Just rumors, as AP confirmed tweet was 'bogus', but it turned risk off momentarily with USD/JPY falling to a low of 98.58 before bouncing back above 99.00.

USD/JPY is currently trading at the 99.20/25 area, just where it was before the headlines, and virtually unchanged since opening.

In terms of technical levels, next resistance could be found at 99.50 (daily high) ahead of 99.90 (high Apr 22) and finally 99.95 (2013 high Apr 11), while on the other hand, supports are seeb at 98.58 (200-hour SMA), 98.48 (daily low) and 98.10 (low Apr 19).

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