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Forex: USD/JPY at lows of 97.70 after jump to 98.13 high

FXstreet.com (Barcelona) - Today’s releases of Japan data triggered a jump back to 98.00 ground, to 98.13 high, but such momentum didn’t last long and the USD/JPY is now down at its lows, around 97.70.

Japan’s vehicle production fell from -15.1% to -16.4% in March, while housing starts rose from 3.0% to 7.3% (consensus of 5.5%) but annualized housing starts eased from 0.944M to 0.904M. Construction orders fell from 16.3% to -3.4%.

Mataf.net analysts point to resistance at 98.20, 98.85 and 99.50, while supports are at 97.65, 97.35 and 97.20.

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Despite profit taking at the last day of the month, by -0.15%, Japan’s Nikkei Stock Average still had the best April in 20 years (+11.4%) due to BoJ policy announcement in April 4th. Mainland China’s Shanghai Composite was closed for Ching Ming Festival, but Hong Kong’s Hang Seng rose +0.71%, while South Korea’s Kospi gained +1.19% and India’s Bombay Composite edged higher by +0.11%.
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