USDJPY bounces off 104.00 area

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One might notice that the USD/JPY has been moving in a rapid upward move in the past few hours. The currency pair slightly touched 104.00 area - levels not seen since March. There are rumours that this area is being defended by the Bank of Japan. In the past BoJ’s FX interventions were nothing unusual. Has the Japanese Yen become too strong against the U.S. dollar again?

USDJPY clearly bounced off 104.00 area. Source: xStation5

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