FxWirePro: Japanese yen trades marginally higher after BOJ’s monetary policy meeting minutes

• USD/JPY is currently trading around 111.62 marks.
   
• It made intraday high at 111.80 and low at 111.53 levels.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 111.72 marks.
   
• A daily close above 111.72 will take the parity higher towards key resistances around 112.86, 113.57, 114.88, 115.50, 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.
   
• On the other side, a sustained close below 111.72 will drag the parity down towards key supports around 110.99, 109.88, 108.12, 107.32, 106.72, 106.03 and 104.96 levels respectively.
   
• BOJ July meeting minutes - Many members said companies likely to gradually shift toward raising wages and prices.
   
• BOJ July meeting minutes - Many members said BOJ should continue with quantitative easing and yield curve control.
   
• BOJ July meeting minutes - A few members said jobless rate and output gap need to improve further to reach 2 pct inflation.
   
• BOJ July meeting minutes - Some members said 2 pct inflation target is global standard, contributes to FX stability.
   
• Tokyo's Nikkei share average opens down 0.24 pct at 20,349.26.

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