FxWirePro: Japanese Yen trades slightly higher on robust machinery orders data
- USD/JPY is currently trading around 110.40 marks.
- It made intraday high at 110.49 and low at 110.19 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 111.18 marks.
- A daily close above 110.43 will take the parity higher towards key resistances around 111.18, 111.87, 112.78, 113.75 and 114.17 levels respectively.
- On the other side, a sustained close below 110.43 will drag the parity down towards key supports around 109.88, 108.12, 107.32, 106.72, 106.03 and 104.96 levels respectively.
- Japan Nov machinery orders m/m increase to 5.7 % (forecast -1.4 %) vs previous 5 %.
- Tokyo’s Nikkei share average opens up 0.18 pct at 22,047.95.
Source: FXWire Technicals