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USD/JPY Hits Fresh Daily Lows as Sentiment Deteriorates
USD/JPY
fell briefly below 108.50 and posted fresh daily lows as the dollar
weakened across the board while the yen benefitted from worsened market
sentiment.
USD/JPY bottomed out at 108.43 at the beginning of the
New York session, weighed further down for a negative opening in Wall
Street. At time of writing, USD/JPY is trading at the 108.60 zone, still
0.59% below its opening price.
USD/JPY levels to consider
As
for technical levels, next supports could be found at 108.26 (May 10
low), 107.49 (10-day SMA) and 107.07 (May 9 low). On the other hand,
resistances are seen at 109.36 (May 11 high), 110.06 (100-week SMA) and
110.61 (50-day SMA)
