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Forex: USD/JPY nears daily highs

FXstreet.com (Córdoba) - The US dollar managed to take a step higher against the yen on Monday, still benefitting from the strong NFP report, but failed to break above the 99.45 zone and pulled back.

However, the USD/JPY setback found support at the 20-hour SMA around 99.14 during the NY session, leaving the pair directionless within a narrow range. At time of writing, the pair is quoting at the 99.35 zone, where it posts a 0.2% gain on Monday.

On the upside, if USD/JPY manages to break above 99.45, next resistances are seen at 99.55 (Apr 25 high) and 99.75 (Apr 24 high). On the other hand, supports could be found at 99.04 (daily low) and 98.55 (20-day SMA).

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