FxWirePro: Japanese yen trades marginally higher despite lower than expected PPI data
USD/JPY is currently trading around 108.93 marks. It made intraday high at 109.03 mark and low at 108.87 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 109.28 mark. A daily clos…
It made intraday high at 109.03 mark and low at 108.87 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 109.28 mark.
A daily close above 109.28 will take the parity higher towards key resistances around 109.62, 110.70, 111.44 and 112.40 levels respectively.
On the other side, a sustained close below 109.00 will drag the parity down towards key supports around 108.53, 107.84, 107.47, 106.76, 105.95, 104.00, 102.22, 101.68 and 100.98 levels respectively.
Japan’s Nikkei was trading 1.04 pct lower at 23,276.50 points.
Japan’s PPI data m/m stands at 1.1 pct vs -0.3 pct previous release (expected 1.2).
Japan’s PPI data y/y stands at -0.4 vs -1.1 pct previous release (expected -0.3).
