USD/JPY retests daily highs ahead of Beige Book

FXstreet.com (Córdoba) - The USD/JPY has advanced slightly over the last hours, as investors await the Fed’s Beige Book report for signs on when the central bank will start rolling back asset purchases.

USD/JPY bottomed out at 99.32 at the beginning g of the NY session after US trade deficit for July widened more than expected, but managed to recover somewhat. At time of writing, USD/JPY is trading at the 99.75 zone, a few pips below daily highs.

USD/JPY technical levels

In terms of technical levels, USD/JPY resistances line up at the 99.80/85 area (Sep 3 & 4 highs) and 100.00 (psychological level), while on the other hand, supports are seen at 99.15 (Sep 3 low) and 99.00 (psychological level).

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EUR/JPY extends bullish momentum after the completion of an upward flag. The pair broke through 131.50 resistance zone to spike and target 132.00 zone in the afternoon of the American trading session.
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