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Forex: USD/JPY trading at support at 98.39/41 after US GDP

FXstreet.com (Barcelona) - The USD/JPY continued its descent Friday, plunging deeper into negative territory as US economic data permeated the market during US trading. In these moments, the cross has penetrated multiple supports and is trading at 98.37/39, down -0.87% off its opening.

Following an earlier plunge below the 98.68 support level, Mataf.net analysts isolate the next supportive bastion at 98.38. Meanwhile a USD/JPY recovery will encounter calculated resistance at 99.48, then 99.78, and finally 100.03.

In the United States, Gross Domestic Product Annualized (Q1) grew +2.5%, against expectations of +3.0%. The Personal Consumption Expenditures Prices (QoQ) yielded a figure of +0.9% in Q1, facing expectations of +1.1%. Finally, the Core Personal grew +1.2% in Q1, matching a consensus of +1.2%.

US 1Q Gross Domestic Product Annualized grows 2.5% and Price Index increases 1.2%

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US: Core Personal Consumption Expenditures (QoQ) increase to 1.2% in 1Q from 1% in 4Q

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