FxWirePro: Japanese yen strengthens against U.S. dollar on robust GDP data
Thursday, May 18, 2017 1:41 AM UTC
- USD/JPY is currently trading around 110.92 marks.
- It made intraday high at 111.22 and low at 110.52 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 112.62 marks.
- A daily close above 110.80 will take the parity higher towards key resistances around 112.62, 113.79, 114.88, 115.50, 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.
- On the other side, a sustained close below 110.80 will drag the parity down towards key supports around 110.52, 109.60, 108.32, 106.72, 106.03 and 104.96 levels respectively.
- Japan’s Q1 GDP q/q increase to 0.5 % (forecast 0.4 %) vs previous 0.3 %.
- Japan’s Q1 GDP q/q annualised increase to 2.2 % (forecast 1.7 %) vs previous 1.4 % (revised from 1.2 %).
- Japan’s Q1 GDP q/q private consumption prelim increase to 0.4 % (forecast 0.4 %) vs previous 0.0 %.
- Dollar falls to lowest since April against Japanese yen, drops around 1.9 percent to 110.52.