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FxWirePro: Japanese yen appreciates after trade balance data

  • USD/JPY is currently trading around 106.20 marks.
     
  • It made intraday high at 106.36 and low at 106.13 levels.
     
  • Intraday bias remains neutral for the moment.
     
  • A daily close above 106.27 will take the parity higher towards key resistances around 107.00, 107.90, 108.64, 110.32, 110.92, 111.87, 112.78, 113.75 and 114.17 levels respectively.
     
  • On the other side, a sustained close below 106.27 will drag the parity down towards key supports around 105.55, 104.96 and 103.34 levels respectively.
     
  • Japan Jan trade balance total yen decrease to -943.4 bln jp (forecast -1002.2 bln jp) vs previous 358.7 bln jp (revised from 359 bln jp).
     
  • Japan Jan exports y/y increase to 12.2 % (forecast 10.3 %) vs previous 9.3 %.
     
  • Japan Jan imports y/y decrease to 7.9 % (forecast 8.3 %) vs previous 14.9 %.
     
  • Tokyo's Nikkei share average opens up 0.84 pct at 21,903.66.

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