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FxWirePro: Yen marginally lower in early hours of Asia on the back of lower than expected core machinery orders data

  • USD/JPY is currently trading around 105.70 marks.
     
  • It made intraday high at 105.95 and low at 105.54 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 104.62 levels.
     
  • A daily close above 105.65 will take the parity higher towards key resistances around 106.12, 106.72, 107.49, 107.90 and 109.13 levels respectively.
     
  • On the other side, a sustained break below 104.62 will drag the parity down towards key supports around 103.75, 102.67, 101.56, 100.30, 99.27 and 98.78 levels respectively.
     
  • Japan September machinery orders m/m decrease to -3.3 % (forecast -0.8 %) vs previous -2.2 %.
     
  • Japan September machinery orders y/y decrease to 4.3 % (forecast 3.5 %) vs previous 11.6 %.
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