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2017.02.1921:41:00UTC+00Fxwirepro: Japanese Yen Marginally Lower As Japan’s Trade Balance Data Fails to Meet Expectations

  • USD/JPY is currently trading around 113.11 marks.
     
  • It made intraday high at 113.12 and low at 112.79 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 112.61 marks.
     
  • A daily close above 112.90 will take the parity higher towards key resistances around 113.50, 114.95, 115.61, 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.
     
  • On the other side, a sustained close below 112.90 will drag the parity down towards key supports around 111.62, 110.85, 109.72, 106.72, 106.03 and 104.96 levels respectively.
     
  • Japan’s January trade balance total yen decreases to -1086.9 bln jpy (forecast -636.8 bln jpy) vs previous 641.4 bln jpy.
     
  • Japan’s January exports yy decrease to 1.3 % (forecast 4.7 %) vs previous 5.4 %.
     
  • Japan’s January imports yy increase to 8.5 % (forecast 4.7 %) vs previous -2.6 %.

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