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USD/JPY holds 151.00 again and rebounds

Since the last update here, the USD/JPY tested the downside and repeated efforts to break below 151.00 played out. However, for the time being that level has held once again. To remind the reader, the USD/JPY based out on March 22 at 151.01. It then based out again on March 25 at 151.05 and just now it hit a session low at 151.03 and has risen slightly again since. That rebound has also forced the EUR/USD down to session lows underneath 1.0820. The fact that the EUR/USD could not reclaim the noted 200 day moving average, at 1.0837, even as the USD/JPY fell back has seemingly caused the Euro to fall back as the USD/JPY now rebounds. However, it remains to be seen if that low at 151.03 will cap the downside for the rest of the day, or not. The USD/JPY is just now trading at 151.22
 

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