USD/JPY finds support at 79.50 and trims losses

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USD/JPY finds support at 79.50 and trims losses

FITITOL--> FXstreet.com (Córdoba) - The dollar pared losses against the yen after hitting a 3-day low at the 79.50 area in the wake of risk aversion triggered by the US jobs report.

USD/JPY bounced from a low of 79.48 during the New York session, although the recovery has been limited by the 200-hour SMA around 79.65. At time of writing, the pair is trading at the 79.60 zone, still down 0.4% on the day.

"The pair settled the week little changed after this week's monetary policy easing actions by various central banks prompted speculation that the BoJ may soon follow", says the Talking-Forex.com team. "In terms of technical levels, supports are seen at 79.60/41 and then at 79.23. On the other hand, resistance levels are seen at 80.02/10 and then at 80.56".