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Forex: USD/JPY trading at support at 99.17/21

FXstreet.com (Barcelona) - The USD/JPY has been unevenly navigating negative territory Thursday, failing to pare any of its losses as of European trading. With a sizable amount of economic data left on tap later today, the pair is trading at 99.17/21 in these moments, incurring a loss of -0.32% off its opening.

According to the technical analyst team at ICN.com, “The USD/JPY’s attempts to the upside remained limited below 99.85 levels, as stability below this level might trigger a new attempt to the downside today.”

Mataf.net analysts isolate supports at 99.21, ahead of 98.95, and finally 98.68. On the rise, the USD/JPY will encounter calculated resistance at 99.75, then the 100.00 barrier, and finally 100.29.

Later tonight at 23:30 GMT, investors will learn of a tranche of economic data out of Japan, including multiple CPI indicators that could reveal inflationary concerns.

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