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FxWirePro: USD/JPY below 120 handle, awaits US Q2 GDP results for direction

The yen nursed losses against the dollar on Thursday, pulling USD/JPY up 0.1 percent to 120.03 Gains in Chinese equities helped underpin risk sentiment and dampened demand for the safe haven Japanese currency The major f…

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  • The yen nursed losses against the dollar on Thursday, pulling USD/JPY up 0.1 percent to 120.03 

  • Gains in Chinese equities helped underpin risk sentiment and dampened demand for the safe haven Japanese currency

  • The major failed to hold above the 120 barrier, fell to fresh session low of 119.79 and is currently trading at 119.98

  • Immediate resistance is seen at day's highs by 120.03, while supports on the downside are located at 119 and below that at 118.43 (Aug 26 Low)

  • Some nearby option expirations today at 120.00 - USD312 mln

  • Markets await US Q2 GDP figures ahead of a slew of Japan's macro releases due tomorrow for further direction

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