FxWirePro: Japanese yen appreciates despite lower than expected industrial production data
USD/JPY is currently trading around 108.60 marks. It made intraday high at 108.90 and low at 108.53 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 108.90 marks. A daily close ab…
It made intraday high at 108.90 and low at 108.53 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 108.90 marks.
A daily close above 108.90 will take the parity higher towards key resistances around 109.46, 110.10, 111.40, 111.87, 112.56 and 113.44 levels respectively.
On the other side, a sustained close below 108.90 will drag the parity down towards key supports around 108.54, 107.65, 106.98, 106.61 and 105.98 levels respectively.
Japan April industrial output prelim mm decrease to 0.3 % (forecast 1.2 %) vs previous 1.4 %.
Japan May IP forecast 1 month ahead decrease to 0.3 % vs previous 3.1 %.
Japan June IP forecast 2 month ahead increase to -0.8 % vs previous -1.6 %.
Tokyo's nikkei share average opens up 0.66 pct at 22,163.40.
