FxWirePro: Yen continues to add strength against US dollar, intraday bias remains bearish
USD/JPY is currently trading around 106.66 marks. It made intraday high at 107.08 and low at 106.51 levels. Intraday bias remains bearish till the time pair holds key resistance at 107.38 marks. A daily close above 107.3…
It made intraday high at 107.08 and low at 106.51 levels.
Intraday bias remains bearish till the time pair holds key resistance at 107.38 marks.
A daily close above 107.38 is required to take the parity higher towards key resistances around 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively.
On the other side, a sustained break below 106.35 will drag the parity down towards key supports at 105.71, 105.45 and 104.55 levels respectively.
Today Japan released core machinery orders with negative numbers at -11.0% m/m vs 5.5% m/m previous release. In addition, M2 money stock remains flat at 3.4% m/m.
