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After a rally from the lows near 108.80 post FOMC, USD/JPY took a breather on Friday. Whether the rally will continue also depends on Fed speakers and whether they will side more with Kashkari/Kaplan (cautious) or with Yellen (hawkish).
100 DMA near 111.80 is the initial hurdle ahead of the 2017 trendline resistance near 112.50. 200 DMA (110.70) is the immediate support . 110 - 110.50 area should now hold if bulls are to remain in control. Otherwise, we'll probably see a retest of the year's low near 108.15.
100 DMA near 111.80 is the initial hurdle ahead of the 2017 trendline resistance near 112.50. 200 DMA (110.70) is the immediate support . 110 - 110.50 area should now hold if bulls are to remain in control. Otherwise, we'll probably see a retest of the year's low near 108.15.
