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USD/JPY chart - Trading View
USD/JPY is extending marginal gains on the day, snapping a 4-day bear run, bias remains bearish.
USD recovering some lost ground following Tuesday’s sharp sell-off, holds above daily cloud support.
The major was trading 0.15% higher on the day at 107.37 at around 09:45 GMT after closing 0.51% lower in the previous session.
Retrace below 200-DMA has opened downside for the pair. Technical indicators also support weakness.
On the data front for the day remains on Retail Sales, Industrial Production, Capacity Utilization and the NAHB Index.
Major supports align at 106.70 (cloud top), 106.44 (50% Fib) and 105.20 (61.8% Fib). Retrace above 200-DMA negates any bearish bias.
