FxWirePro: Japanese yen falls on the back of lower than expected trade balance data
USD/JPY is currently trading around 108.90 marks. It made intraday high at 109.02 and low at 108.79 levels. Intraday bias remains neutral till the time pair holds key support at 108.42 marks. A daily close above 108.85 w…
It made intraday high at 109.02 and low at 108.79 levels.
Intraday bias remains neutral till the time pair holds key support at 108.42 marks.
A daily close above 108.85 will take the parity higher towards key resistances around 109.86, 111.58, 112.20, 112.86, 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 108.42 will drag the parity down towards key supports around 106.72, 106.03 and 104.96 levels respectively.
Japan’s March exports y/y increase to 12 % (forecast 6.7 %) vs previous 11.3 %.
Japan’s March imports y/y increase to 15.8 % (forecast 10.4 %) vs previous 1.2 %.
Japan’s March trade balance total yen decrease to 614.7 bln jpy (forecast 575.8 bln jpy) vs previous 813.4 bln jpy.
