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USD/JPY rebound meets resistance at 145
The USD/JPY rebound that started to gain more traction yesterday afternoon has extended today and cone very close to trading at 145. The high seen so far has been set at 144.97, but if you care to look at a short-term chart of the pairing you will see it has tried to rise above 145 a number of times so far today has not yet been able to vault that level. The dollar had closed in the US last night at 144.53, so it has nevertheless made progress today. Beyond 145 there does not appear to be much in the way of resistance this side of 146.80. However, clearly there are sellers in place at that 145 handle for the time being and that has successfully capped the topside for the dollar during the Asian session today. The USD/JPY is currently trading at 144.83
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