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FxWirePro: USD/JPY struggles to extend previous session's gains, unexpected rise in weekly jobless claims dents dollar

USD/JPY chart - Trading View 

USD/JPY was trading 0.16% lower on the day at 105.25 at around 04:15 GMT.

The pair has failed to extend previous session's gains, upside remains capped below 21-EMA resistance.

An unexpected rise in the U.S. weekly jobless claims on Thursday revived fears of a slowdown in the world's largest economy.

However, a deadlock over the fiscal stimulus talks and the coronavirus resurgence across Europe weighed over the investor sentiment and put a bid under the greenback.

Technical studies support neutral to bearish bias. Momentum studies are bearish. Bearish 5-DMA crossover on 20-DMA adds to the downside bias.

Dip till trendline support at 104.35 likely. Breach there could see test of 104 levels. Break above 21-EMA resistance at 105.49 could see minor upside.

Support levels - 105, 104.35 (trendline), 104

Resistance levels - 105.49 (21-EMA), 105.79 (55-EMA), 106
 

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