FxWirePro: Japanese yen trades marginally lower after trade balance data, sustained close above 110.75 requires for upside rally
USD/JPY is currently trading around 110.97 marks. It made intraday high at 111.07 and low at 110.88 levels. Intraday bias remains slightly bullish till the time pair holds key support at 110.40 mark. A daily close above …
It made intraday high at 111.07 and low at 110.88 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 110.40 mark.
A daily close above 110.75 will take the parity higher towards key resistances around 111.26, 111.87, 112.56 and 113.44 levels respectively.
On the other side, a sustained close below 110.75 will drag the parity down towards key supports around 109.82, 108.54, 107.65, 106.98, 106.61 and 105.98 levels respectively.
Japan April exports y/y increase to 7.8 % (forecast 8.1 %) vs previous 2.1 %.
Japan April imports y/y increase to 5.9 % (forecast 9.6 %) vs previous -0.6 %.
Japan April trade balance total yen decrease to 626 bln jp (forecast 405.6 bln jp) vs previous 797 bln jp.
