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USD/JPY pressing higher again
Since an earlier update this morning on the USD/JPY, the dollar has been pressing higher and it just now lifted above 157.35, reaching a session high at 157.37. That move comes as US yields also edge a little higher. The 10 year note was as low as 4.96% earlier today is it right now 4.99%. That coupled with a rebound off the lows in Brent just now is also a factor to consider.
The next potential resistance level on the USD/JPY is in place at 157.53- the 50 day moving average. The move higher in the USD/JPY is also adding a bit more downside pressure on the GBP/USD and the EUR/USD. That in turn is helping the Dollar index to edge closer to that 101.85 level once more, where it previously capped the topside since the end of last week.
The USD/JPY is right now at 157.35
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