Japanese Yen gains despite lower than expected industrial production data
USD/JPY is currently trading around 112.60 marks. It made intraday high at 112.80 and low at 112.39 levels. Japanese industrial output fell sharply in February after shipments dropped. Combined output from Japan's mines,…
It made intraday high at 112.80 and low at 112.39 levels.
Japanese industrial output fell sharply in February after shipments dropped.
Combined output from Japan's mines, factories and utilities tumbled 6.2% month-on-month in February, coming in worse than the 5.8% decline forecast by markets.
Pair breaks key support level at 112.60 and confirms bearish trend for the moment.
Initial support levels are seen at 112.60, 111.34 and 110.66 levels.
On the top side, key resistance levels are seen at 113.43, 113.98 and 114.87 marks.
