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FxWirePro: Japanese yen trades marginally lower despite higher than expected core machinery orders data

  • USD/JPY is currently trading around 108.43 marks.
     
  • It made intraday high at 108.48 and low at 108.12 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 107.83 marks.
     
  • A daily close above 107.83 will take the parity higher towards key resistances around 108.71, 109.26, 109.83, 110.94, 111.47, 112.86, 113.57, 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 107.83 will drag the parity down towards key supports around 107.32, 106.72, 106.03 and 104.96 levels respectively.
     
  • Japan July machinery orders m/m increase to 8 % (forecast 4.4 %) vs previous -1.9 %.
     
  • Japan July machinery orders y/y decrease to -7.5 % (forecast -7.3 %) vs previous -5.2 %.
     
  • July core machinery orders post biggest m/m gain since Jan 2016.
     
  • Tokyo's Nikkei share average opens up 0.86 pct at 19,441.39.


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