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Forex: EUR/SEK testing Monday’s lows around 8.5300

FXstreet.com (Barcelona) - The stronger Swedish krona is dragging the cross to a revisit of yesterday’s lows in the vicinity of 8.5200 on Tuesday, after the industrial production in the Scandinavian economy has left behind February’s contraction and posted a flat print in March.

Empty docket ahead in the week for the SEK, although the most relevant event in the region will be the Norges Bank monetary policy meeting tomorrow. Market consensus expects the central bank to leave the repo rate unchanged at 1.5%.

As of writing, the cross is down 0.38% at 8.5299 with the next support at 8.4874 (low Apr.22) ahead of 8.4810 (low May 6) and finally 8.4585 (high Mar.25).
On the upside, a surpass of 8.5800 (high May 2) would open the door to 8.6489 (high Apr.24) and 8.6535 (high Feb.1).

Forex: EUR/JPY jump stalls at 130.35/40 weekly highs

Once again, the EUR/JPY failed to extend the upside above 130.35/40 area following the unexpected 2.2% growth in factory orders, instead of the predicted -0.5% contraction. Since May 3 that the cross has been attempting at advancing through the chart up to 131.13, April 11 high, but the 130.35/40 zone has been stalling repeatedly.
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Forex: USD/JPY remains capped below 99.45

After being rejected from the 99.45 area and falling to a 4-day low sub-99.00, the US dollar managed to trim intraday losses against the yen, underpinned by EUR/JPY demand. USD/JPY bottomed out at 98.82 during the Asian session but has been steadily cutting losses and recently reached a high of 99.34.
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