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

  • USD/JPY is currently trading around 108.93 marks.
     
  • It made intraday high at 109.03 mark and low at 108.87 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 109.00 will drag the parity down towards key supports around 108.53, 107.84, 107.47, 106.76, 105.95, 104.00, 102.22, 101.68 and 100.98 levels respectively.
     
  • Japan’s Nikkei was trading 1.04 pct lower at 23,276.50 points.
     
  • Japan’s PPI data m/m stands at 1.1 pct vs -0.3 pct previous release (expected 1.2).
     
  • Japan’s PPI data y/y stands at -0.4 vs -1.1 pct previous release (expected -0.3).
  • Market Data
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