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Forex: USD/JPY consolidates above 99.25

After jumping around 75 pips in the early American session from 98.70 to reach intra-day high at 99.40, the USD/JPY has been trading in consolidation mode just above the 99.25 area. Now the pair is pricing at 99.30.

The USD/JPY is currently 0.30% positive on the day. However, the pair is trading slightly bearish according to the FXstreet.com trend index with indicators such as Stochastic and Momentum pointing to the south while the MACD and the CCI signalizing bullish in the 15-minute chart.

Above the 99.40, next resistances are at 99.60 and 99.70. On the downside, supports are at 98.65, 98.20 and 97.90.

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