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USD/JPY pushes towards highest since Wednesday. What’s next


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112.65 holding so far

USD/JPY is testing minor resistance at 112.65 after falling as low as 112.35. The turnaround comes as sentiment is buoyed by a massive rally in Chinese equity markets following a household tax cut announcement and upbeat commentary from leaders on Friday.

If 112.65 breaks it could quickly mean an assault on 112.73 and that would be the highest since Oct 9 and clear the way for a more-sustained bounce.

ForexLive

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