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FxWirePro: USD/JPY trades in narrow range after Japan’s core machinery orders, PPI data

  • USD/JPY is currently trading around 114.33 marks.
     
  • It made intraday high at 114.45 and low at 114.09 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 114.00 levels.
     
  • A daily close above 115.50 will take the parity higher towards key resistances around 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.
     
  • On the other side, a sustained close below 113.98 will drag the parity down towards key supports around 113.13, 112.05, 111.35, 110.85, 109.72, 106.72, 106.03 and 104.96 levels respectively.
     
  • Japan’s November machinery orders m/m decreases to -5.1 % (forecast -1.7 %) vs previous 4.1 %.
     
  • Japan’s November machinery orders y/y increases to 10.4 % (forecast 8.1 %) vs previous -5.6 %.
     
  • Japan’s December corporate goods price m/m increases to 0.6 % (forecast 0.3 %) vs previous 0.4 %.
  • Market Data
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