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Alerta - 17:50 (CET) - USD/JPY
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The Japanese currency is challenging the ultra-psychological support of 90.00 dollars, just before the Fed announces its interest rate decision at 20:15 (CET). If the Fed cuts the rates at 75bp as some predict, the differential will be, for the first time, positive for the Yen assets, as the BoJ is keeping its rates at 0.3%.
The UsdJpy is trading at 90.12, ranging from 89.73 to 90.74, under yesterday's closing price at 90.65. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The ultra-psychological support at 90.00 (key) is being challenged. If broken, the traders will observe the next at 88.55 (December 11th low) and 85.00 (key). The resistances are set at 93.07 (December 9th high), 95.61 (December 1st high) and 98.19 (November 13th high).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 42 points, after being oversold. The average volatility per hour is 110 pips. Checking the graphics again, we see that the current price is under the 23.60% (130.80) and over the 0.00% (80.23) Fibonacci retracement lines.
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