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 w…
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.
