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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 104.20 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.
  • Market Data
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