FxWirePro: Yen gains on the back of higher than expected manufacturing PMI data
USD/JPY is currently trading around 103.90 marks. It made intraday high at 103.99 and low at 103.80 levels. Intraday bias remains bearish till the time pair holds key resistance at 104.20 levels. A daily close above 104.…
It made intraday high at 103.99 and low at 103.80 levels.
Intraday bias remains bearish till the time pair holds key resistance at 104.20 levels.
A daily close above 104.20 will take the parity higher towards key resistances around 105.50, 106.12, 106.72, 107.49, 107.90 and 109.13 levels respectively.
On the other side, a sustained break below 103.52 will drag the parity down towards key supports around 102.67, 101.56, 100.30, 99.27 and 98.78 levels respectively.
Japan flash October manufacturing PMI rises to 51.7 from final 50.4 in September, fastest expansion in 9 months.
Japan September exports y/y increases to -6.9 % (forecast -10.4 %) vs previous -9.6 %.
Japan September imports y/y increases to -16.3 % (forecast -16.6 %) vs previous -17.3 %.
Japan September trade balance total yen increases to 498.3 bln JPY (forecast 341.8 bln JPY) vs previous -18.7 bln JPY.
