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Narrow Ranges On Tuesday

JPY

USD/JPY prints at ¥135.15/25, the pair was little changed yesterday.

  • The Yen observed narrow ranges for the most part on Tuesday, support was seen below ¥135 and resistance above ¥135.30. There was little follow through on moves in a muted session for the yen.
  • Technically, USD/JPY appears vulnerable near-term following last weeks bearish price action despite the latest shallow recovery. Support comes in at ¥133.50, low from May 5, and ¥133.02, low from Apr 26 and key near term support. Resistance is at ¥135.64, 50.0% retracement of May 2 - 4 bear leg.
  • On the wires today we have the preliminary print of the March Coincident Index (exp 98.7) and Leading Index (exp 97.9).

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