FxWirePro: Japanese yen marginally lower as Japan’s trade balance data fails to meet expectations
USD/JPY is currently trading around 113.11 marks. It made intraday high at 113.12 and low at 112.79 levels. Intraday bias remains bullish till the time pair holds key support at 112.61 marks. A daily close above 112.90 w…
It made intraday high at 113.12 and low at 112.79 levels.
Intraday bias remains bullish till the time pair holds key support at 112.61 marks.
A daily close above 112.90 will take the parity higher towards key resistances around 113.50, 114.95, 115.61, 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.
On the other side, a sustained close below 112.90 will drag the parity down towards key supports around 111.62, 110.85, 109.72, 106.72, 106.03 and 104.96 levels respectively.
Japan’s January trade balance total yen decreases to -1086.9 bln jpy (forecast -636.8 bln jpy) vs previous 641.4 bln jpy.
Japan’s January exports yy decrease to 1.3 % (forecast 4.7 %) vs previous 5.4 %.
Japan’s January imports yy increase to 8.5 % (forecast 4.7 %) vs previous -2.6 %.
