FxWirePro: Yen strengthens in early hours despite lower than expected industrial production data
USD/JPY is currently trading around 102.82 marks. It made intraday high at 103.02 and low at 102.68 levels. Intraday bias remains bearish till the time pair holds key resistance at 102.84 marks. A sustained break below 1…
It made intraday high at 103.02 and low at 102.68 levels.
Intraday bias remains bearish till the time pair holds key resistance at 102.84 marks.
A sustained break below 102.17 will drag the parity down towards key supports at 101.55, 100.98, 99.27 and 98.82 levels respectively.
Alternatively, a daily close above 102.85 is required to take the parity higher towards key resistances around 103.45, 104.80, 106.12 and 107.46 levels respectively.
Japan May industrial output prelim m/m decrease to -2.3 % (forecast -0.1 %) vs previous 0.5 %. It is the lowest level since June 2013.
