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FxWirePro: Japanese Yen trades marginally higher on robust economic data

Japanese Yen trades marginally higher on robust economic data

  • USD/JPY is currently trading around 112.38 marks.
  • It made intraday high at 112.69 and low at 112.32 levels.
  • Intraday bias remains bearish till the time pair holds key resistance at 112.72 marks.
  • A daily close above 112.70 will take the parity higher towards key resistances around 113.50,  114.17, 114.88, 115.50, 117.21 and 118.18 levels respectively.
  • On the other side, a sustained close below 112.70 will drag the parity down towards key supports around 111.73, 111.37, 110.48, 109.88, 108.12, 107.32, 106.72, 106.03 and 104.96 levels respectively.
  • Japan Oct 2017 unemployment rate stays flat at 2.8 percent (forecast 2.8 percent) vs previous 2.8 percent.
  • Japan Oct 2017 CPI, core nationwide y/y increase to 0.8 percent (forecast 0.8 percent) vs previous 0.7 percent.
  • Japan Nov 2017 CPI core Tokyo y/y stays flat at 0.6 percent (forecast 0.6 percent) vs previous 0.6 percent.
  • Japan Oct 2017 all household spending m/m decrease to -2 percent (forecast -1.4 percent) vs previous 0.4 percent.
  • Japan Q3 2017 business CAPEX (mof) y/y increase to 4.2 percent vs previous 1.5 percent.
  • Japan Nov 2017 Nikkei manufacturing PMI decrease to 53.6 index vs previous 53.8 index.

Source: FXWire Technicals

 

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