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  • US Dollar striking a softening tone following last Friday’s US-China tariff implementation, US NFP jobs report.
  • 110.50 has been a key cyclical figure for the USD/JPY for several weeks, failed breaks of outside barriers will continue to play towards the middle.
  • Strong support zone could be building from 110.30 upwards.

USD/JPY Chart, 1-Hour

Spot rate:   110.51
Relative change:   0.10%
High:   110.52
Low:   110.36
   
Trend:   Bearish
Support 1:   110.27 (previous week low)
Support 2:   109.36 (two week low)
Support 3:   108.71 (June low)
   
Resistance 1:   110.80 (61.8% Fibo retracement level)
Resistance 2:   111.12 (previous week high)
Resistance 3:   111.39 (May technical top)