🔔 The growing number of new Covid-19 infections redound to new public restrictions and State of Emergency declarations in Tokyo, Kyoto, Osaka and Hyogo. There are protest in Japan against the Olympics. Interest rate is still -0.10%
🔔 Japan has the lowest vaccine distribution compared to other countries, thus the rate is 1.6% only compared to the 49.7% in the UK and 41.8% in the US.
🔔 The support of $107.7 is very strong, as you can see on the chart, hence, I believe, we are in the cycle of the uptrend continuation.
🔔 There is a strong resistance at $108.45, to continue upwards, USD/JPY has to close above this level. FOMC statements and key notes will be decisive tomorrow.
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