USD/JPY: The dollar consolidated near a 5-month low recorded in the previous session after U.S. President Donald Trump said that he would likely go ahead with new tariffs on imports from Mexico to pressure it to curb on rising numbers of migrants entering the United States. The major was trading flat at 108.08, having hit a low of 107.84, its lowest since Jan. 10.
Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. ADP employment change, service PMI from both Markit and ISM and Fed Clarida’s speech. Immediate resistance is located at 108.64 (38.2% retracement of 109.92 and 107.85), a break above targets 109.13 (61.8% retracement). On the downside, support is seen at 107.77 (Jan. 10 Low), a break below could take it lower at 107.51 (Jan. 4 Low).
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