- Pair is currently trading at ¥113.87 levels.
- It made intraday high at ¥113.92 and low at ¥113.27 levels.
- Japan's economy contracted 0.4% in the December quarter, missing the consensus forecast of a 0.2% fall in production.
- Last week pair touched multi year low at ¥110.98 marks and currently Yen erased its previous gains and supported just below ¥114.00 marks.
- Intraday bias remains bullish for the day.
- A daily close below ¥110.98 marks will drag the parity towards ¥109 and 106.00 marks thereafter.
- Alternatively, reversal from this level will take the parity again above ¥115 marks.
We prefer to take long position in USD/JPY around ¥113.30, stop loss ¥111.50 and target ¥115.35 levels.


FxWirePro- Woodies pivot (Major)
FxWirePro:EUR/NZD gains slightly as ranges remain tight ahead U.S. inflation report
FxWirePro: GBP/NZD gains some upside momentum, but outlook is bearish
FxWirePro: USD/CNY hovers near 3-1/2-year low ahead of U.S. data
FxWirePro- Woodies pivot (Major)
FxWirePro:NZD/USD drifts lower, could be on verge of bigger drop
FxWirePro- Major Pair levels and bias summary
FxWirePro : USD/JPY holds near 160 as yen remains under pressure
FxWirePro: USD/ZAR edges higher after weak SA jobs and manufacturing data
FxWirePro: AUD/USD range bound ahead of RBA policy decision
Major Crypto Pair Crypto Score: BNBUSD Extremely Bullish at 100, Dominating as XRPUSD Turn Deeply Bearish
Major Pair Currency Score: GBPUSD and AUDUSD Extremely Bullish, NZDUSD Bullish
FxWirePro: GBP/USD gives up gains as traders await UK GDP
FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption
FxWirePro: AUD/USD in holding pattern as market await fresh catalyst
FxWirePro: USD/ZAR eyes downside as dollar eases after US CPI data 



