USD/JPY: The dollar gained against the Japanese yen on Friday as jitters ahead of next week’s U.S. presidential election and the continued surge in global coronavirus boosted appeal for greenback. The greenback posted its largest weekly percentage gain since late September, with investors scooping up dollars due to fears of a contested election and the economic impact of renewed lockdowns in France, Germany and some regions of Spain. Friday’s economic data, meanwhile, which showed U.S. consumer spending exceeding forecasts, had little impact on the currency market.The dollar index rose 0.2% to 94.035. On the week, the index was up 1.4%, its best weekly performance in more than a month. Strong resistance can be seen at 104.71 (9DMA), an upside break can trigger rise towards 104.94 (61.8%fib).On the downside, immediate support is seen at 104.50 (50%fib), a break below could take the pair towards 104.05 (38.2%fib).
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