• FxWirePro: Japanese Yen trades marginally lower after trade balance data, sustained close above 110.75 requires for upside rally

    Source: FxWire Pro - Technicals / 20 May 2018 22:26:50   America/New_York

    • USD/JPY is currently trading around 110.97 marks.
       
    • It made intraday high at 111.07 and low at 110.88 levels.
       
    • Intraday bias remains slightly bullish till the time pair holds key support at 110.40 mark.
       
    • A daily close above 110.75 will take the parity higher towards key resistances around 111.26, 111.87, 112.56 and 113.44 levels respectively.
       
    • On the other side, a sustained close below 110.75 will drag the parity down towards key supports around 109.82, 108.54, 107.65, 106.98, 106.61 and 105.98 levels respectively.
       
    • Japan April exports y/y increase to 7.8 % (forecast 8.1 %) vs previous 2.1 %.
       
    • Japan April imports y/y increase to 5.9 % (forecast 9.6 %) vs previous -0.6 %.
       
    • Japan April trade balance total yen decrease to 626 bln jp (forecast 405.6 bln jp) vs previous 797 bln jp.

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