FxWirePro: Yen marginally lower in early hours of Asia as Japan’s industrial production data fails to meet expectations
USD/JPY is currently trading around 112.43 marks. It made intraday high at 112.54 and low at 112.05 levels. Intraday bias remains bullish till the time pair holds key support at 111.62 levels. A daily close above 112.58 …
It made intraday high at 112.54 and low at 112.05 levels.
Intraday bias remains bullish till the time pair holds key support at 111.62 levels.
A daily close above 112.58 will take the parity higher towards key resistances around 112.58, 113.89, 114.55, 115.32 and 117.25 levels respectively.
On the other side, a sustained break below 111.62 will drag the parity down towards key supports around 111.35, 110.85, 109.72, 106.72, 106.03 and 104.96 levels respectively.
Japan’s October industrial output prelim m/m decreases to 0.1 % (forecast -0.1 %) vs previous 0.6 %.
Japan’s October IP forecast 1 month ahead increases to 4.5 % vs previous 1.1 %.
Japan’s October IP forecast 2 month ahead decreases to -0.6 % vs previous 2.1 %.
