USDJPY was moving in consolidation for last two months and after unsuccessful try of continuation of decreases caused by Chinese crisis price gained to 121.30-50 area. Technically we are expecting continuation of gains with support in 121.00-25 area and also 120.70.
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It is worth to notice that today’s trading can be more volatile because of American labor market data. Investors are positively thinking about US dollar after last FOMC report which was extremely hawkish. Breaking 120.70-50 area can cause serious deecerases.