FxWirePro: Japanese yen trades marginally higher despite lower than expected trade balance data
Wednesday, November 20, 2019 2:05 AM UTC
- USD/JPY is currently trading around 108.43 marks.
- It made intraday high at 108.58 mark and low at 108.35 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 108.74 mark.
- A daily close above 108.53 will take the parity higher towards key resistances around 108.74, 109.62, 110.70, 111.44 and 112.40 levels respectively.
- On the other side, a sustained close below 108.53 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 0.84 pct lower at 23,096.50 points.
- Japan’s trade balance data stands at 17.3B pct vs -124.8B pct previous release (expected 301.0B).
By Aarti Panchal