USD/JPY remains supported around 112.00 mark, Japan’s flash manufacturing PMI in focus
USD/JPY is currently trading around 111.96 levels. It made intraday high at 112.20 and low at 111.83 marks. Japan will release flash manufacturing PMI data at 0200 GMT. Market anticipates 50.6 m/m release vs 50.1 m/m pre…
USD/JPY is currently trading around 111.96 levels.
It made intraday high at 112.20 and low at 111.83 marks.
Japan will release flash manufacturing PMI data at 0200 GMT. Market anticipates 50.6 m/m release vs 50.1 m/m previous data.
Pair likely to trade in between 114.00 and 111.31 marks. A sustained break of either side provides further direction to the parity.
On the top side major resistance falls at 114.87 and pair is likely to consolidate below that level.
A daily close above 114.87 will take the parity towards 115.96 marks.
On the other side, initial support level is seen at 111.31 levels. A daily close below key support level will drag the parity towards 110.66/108.75/107.51 marks thereafter.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
