Pair is currently trading at 113.91 levels. It made intraday high at 114.32 and low at 113.79 levels. Today Japan released trade balance data with positive numbers at 0.12T. Japan's exports fell 12.9 percent year-on-year…
It made intraday high at 114.32 and low at 113.79 levels.
Today Japan released trade balance data with positive numbers at 0.12T.
Japan's exports fell 12.9 percent year-on-year in January.
Intraday bias remains neutral for the day.
Pair is likely to consolidate below 115.96 levels.
A daily close above 116.70 will turn bias to bullish again.
Alternatively, a break of 113.17 levels will take the parity around key support at 110.98 and 105.02 levels 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.
