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Forex: USD/JPY jumps towards 94.00

The US Dollar has finally jumped against the Japanese Yen after a previous period of consolidation. The USD/JPY advanced 60 pips in the last few minutes from 93.35 to reach intra-day highs around 93.90. Currently the pair is pricing at 93.85, 1.20% positive on the day.

Japan will be publishing consumer confidence, machinery tool orders and GDP data during the week before Thursday's BoJ monetary policy decision. Given that current Governor Shirakawa is due to leave soon and the most anticipated meeting happened last month, little is to expect this time.

“We favor a test of the strong resistance at 94.99. An initial resistance is at 94.06 (06/02/2013 high)”, wrote Roboforex.com analyst Igor Sayadov, pointing to support at 91.98 (05/02/2013 low) and at 90.33.

Forex: GBP/USD bouncing off lows, around 1.5670

After dipping to the mid 1.56s area, the sterling has managed to gather some traction and trade back to the area around 1.5670/75, as the NA session is draws to a close...
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US supports Japan's efforts for growth, beat deflation

In what should be interpreted as a decently bullish sign for the USD/JPY, Lael Brainard, who is the United States Under Secretary of the Treasury for International Affairs, crossed the wires less than an hour ago to state that the US supports Japan’s efforts to boost economic growth and beat a 2-decade long deflation cycle.
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