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FxWirePro: USD/JPY bulls lose traction, cannot add to overnight gains

• USD/JPY eased slightly on Friday but stayed near a five-month high amid light liquidity trading.

• The yen is headed for its fourth straight year of losses after depreciating by almost 10% versus the dollar this year.

• The BoJ kept rates unchanged this month, with Governor Kazuo Ueda citing uncertainty over Trump's policies and rising concerns about U.S. tariffs affecting global trade. 

•  At GMT 10.49,the dollar was down 0.14% at 157.71 against Japanese yen .
 
• Immediate resistance is located at 158.10 (23.6%fib), any close above will push the pair towards 158.93 (Higher BB).

• Support is seen at 157.30 (Dec 26th low) and break below could take the pair towards 156.47(38.2%fib).

Recommendation: Good to buy around  157.50 with stop loss of 156.80 and target price of 158.40
 

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