FxWirePro: Japanese yen strengthens against U.S. dollar on robust GDP data
USD/JPY is currently trading around 110.92 marks. It made intraday high at 111.22 and low at 110.52 levels. Intraday bias remains bearish till the time pair holds key resistance at 112.62 marks. A daily close above 110.8…
It made intraday high at 111.22 and low at 110.52 levels.
Intraday bias remains bearish till the time pair holds key resistance at 112.62 marks.
A daily close above 110.80 will take the parity higher towards key resistances around 112.62, 113.79, 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 110.80 will drag the parity down towards key supports around 110.52, 109.60, 108.32, 106.72, 106.03 and 104.96 levels respectively.
Japan’s Q1 GDP q/q increase to 0.5 % (forecast 0.4 %) vs previous 0.3 %.
Japan’s Q1 GDP q/q annualised increase to 2.2 % (forecast 1.7 %) vs previous 1.4 % (revised from 1.2 %).
Japan’s Q1 GDP q/q private consumption prelim increase to 0.4 % (forecast 0.4 %) vs previous 0.0 %.
Dollar falls to lowest since April against Japanese yen, drops around 1.9 percent to 110.52.
