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FxWirePro: Japanese yen trades marginally higher despite lower than expected prelim GDP data

  • USD/JPY is currently trading around 108.77 marks.
     
  • It made intraday high at 108.86 mark and low at 108.72 levels.
     
  • Intraday bias remains slightly bearish till the time pair holds key resistance at 109.28 mark.
     
  • A daily close above 109.28 will take the parity higher towards key resistances around 109.62, 110.70, 111.44 and 112.40 levels respectively.
     
  • On the other side, a sustained close below 108.81 will drag the parity down towards key supports around 107.47, 106.76, 105.95, 104.00, 102.22, 101.68 and 100.98 levels respectively.
     
  • Japan’s Nikkei was trading 0.18 pct lower at 23,277.50 points
    .
  • Japan’s prelim GDP data q/q stands at 0.1 pct vs 0.3 pct previous release (expected 0.2).
By Aarti Panchal
  • Market Data
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