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The Japan Leading Economic Index was released at 77.7 for April in final reading vs 76.2 in first estimate and 85.1 in March.

From a technical point of view, on a daily chart, the pair remains under pressure below its resistance at 108.05 and stands below its 50-day moving average (in blue). The daily RSI remains within its selling area. Readers may therefore consider the potential for further weakness below resistance at 108.50. The nearest support would be set at 106.00 (June bottom) and a second one would be set at 105.15 (horizontal resistance) in extension.

Source : TradingVIEW, Gain Capital

Related tags: Forex Forex JPY

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