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FxWirePro: Japanese yen rises in early Asia on the back of higher than expected trade balance data

  • USD/JPY is currently trading around 112.70 marks.
     
  • It made intraday high at 112.83 and low at 112.49 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 112.03 marks.
     
  • A daily close above 112.58 will take the parity higher towards key resistances around 112.89, 113.54,  114.17, 114.88, 115.50, 117.21 and 118.18 levels respectively.
     
  • On the other side, a sustained close below 112.58 will drag the parity down towards key supports around 112.03, 111.73, 111.37, 110.48, 109.88, 108.12, 107.32, 106.72, 106.03 and 104.96 levels respectively.
     
  • Japan Nov 2017 trade balance total yen decrease to 113.4 bln jpy (forecast -54.9 bln jpy) vs previous 284.6 bln jpy (revised from 285.4 bln jpy).
     
  • Japan Nov 2017 imports y/y decrease to 17.2 % (forecast 18 %) vs previous 18.9 %.
     
  • Japan Nov 2017 exports y/y increase to 16.2 % (forecast 14.6 %) vs previous 14 %.
     
  • Tokyo's Nikkei share average opens up 0.96 pct at 22,770.44.

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