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USD/JPY extends gains above 156

Yesterday the USD/JPY made a move above technical resistance at 156.01, as covered here here at the time. The dollar held that break into the US close, when ending that session at 156.22. The dollar has extended the move today, rising to 156.50 earlier in the Asian session. There was some fresh warnings from the Japanese finance minister Suzuki and that might have capped the gains for the dollar, but so far there has been no evidence of any BOJ intervention. The next technical level beyond 156.01 would be the 61.8% correction of that 160.17-151.86 fall and that is at 157.00. The range seen so far today has been covered by 156.14 to 156.50. The USD/JPY is currently trading at 156.43 
 

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