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USD/JPY is erasing parts of the losses genearted by Fed’s Williams commenst on Thursday.
USD/JPY is trading below its main SMAs as the market is revounding from monthly lows. Bears need to break below 107.50 to reach 107.20 on the way down, according to the Technical Confluences Indicator.
USD/JPY is trading at daily highs near 107.70 and above its 50 SMA. The market is challenging the 100 SMA. Dollar bulls would need to overcome 107.83 to reach 108.05 resistance.