Forex: USD/JPY stalls at fresh 9-week lows 79.73

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Forex: USD/JPY stalls at fresh 9-week lows 79.73

FITITOL--> FXstreet.com (Barcelona) - USD/JPY is currently at 79.80, lower by -0.62% for the day and week, off 7 pips from fresh 9-week lows at 79.73 reached by mid NY session. Tokyo will reopen doors today after yesterday's holiday, with Chinese markets still closed, and most part of Europe also closed for the London session ahead.

The pair reversed course at 81.40 late Friday in Japan after BoJ announced its awaited expansion program in asset purchases following a choppy trade after the news, pressing the downside and finally breaking the 80.00 round figure to the downside during NY open Monday.

Support to the downside show at Oct 31st post intervention highs at 79.50, followed by Nov 01 highs 79.00 and Jan 25 highs 78.30. For the upside, immediate resistance comes at April 16 lows 80.29, followed by April 11 lows 80.57, and April 24 lows 80.85.