FxWirePro: Japanese Yen gains in early hours on the back of higher than expected GDP data
USD/JPY is currently trading around 106.97 marks. It made intraday high at 107.38 and low at 106.84 levels. Intraday bias remains bearish till the time pair holds key resistance at 107.90 marks. A daily close above 107.9…
It made intraday high at 107.38 and low at 106.84 levels.
Intraday bias remains bearish till the time pair holds key resistance at 107.90 marks.
A daily close above 107.94 is required to take the parity higher towards key resistances around 110.44, 112.60 (55D EMA) and 113.42 levels respectively.
On the other side, a sustained break below 106.35 will drag the parity down towards key supports at 105.71, 105.45 and 104.55 levels respectively.
Today Japan released GDP data with positive numbers at 0.5% q/q vs 0.4% q/q previous release.
In addition, Japan’s current account showed a surplus of ¥1.63 trillion, lower than the surplus of ¥2.04 trillion seen.
