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USD/JPY stalls ahead of 142.50 again as BOJ looms
The USD/JPY closed on Friday at 142.15. Earlier today it tried to rebound once more, but again the rise stalled just ahead of the 142.50 level. It was the same on Friday too, as was covered here at the time. The reason for that is because it seems to be still running into sellers ahead of its 200 day moving average, in place today at 142.57. The high seen earlier was set at 142.46. The eagerly awaited Bank of Japan policy decision is due in the early hours of tomorrow morning and that is another clear reason for the dollar topping out ahead of that technical level. There are many who expect the BOJ to shift its current -0.10% benchmark rate to something more positive.There will be more to add on that outlook later today. The low since that earlier 142.46 high has been set at 142.07. The USD/JPY is currently trading at 142.22
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