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USD/JPY snaps two-day losing streak as Tokyo open questions risk-off

Tuesday, 25 February 2020 09:19 WIB

USD/JPY recovers 0.23% to 111.00 amid the initial trading hours of Tokyo open on Tuesday. The yen pair benefited from the upbeat Japan data as well as welcome coronavirus updates. Magnifying the market reaction to the risk reset could be the return of Japanese traders from Monday’s holiday due to the Emperor’s Birthday.

Technical Analysis

The lows marked on Friday, around 110.85 and 111.15, limit the pair’s immediate upside while a fresh decline below a short-term rising trend line since February 03, around 110.30/25 now, could recall the bears.

Source: FXstreet

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