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Japanese Yen Trading Lower In The Morning Session

For the 24 hours to 23:00 GMT, the USD rose 1.74% against the JPY and closed at 109.78, as persistent concerns over the coronavirus prompting investors to seek shelter in the safe-haven currency.

In the Asian session, at GMT0400, the pair is trading at 109.87, with the USD trading 0.08% higher against the JPY from yesterday’s close.

The pair is expected to find support at 109.71, and a fall through could take it to the next support level of 109.54. The pair is expected to find its first resistance at 109.97, and a rise through could take it to the next resistance level of 110.06.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

GCI Financial
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