Japanese Yen Gains Despite Lower Than expected Industrial Production Data

Japanese Yen Gains Despite Lower Than expected Industrial Production Data

30 March 2016, 06:11
Roberto Jacobs
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Japanese Yen Gains Despite Lower Than expected Industrial Production Data

  • USD/JPY is currently trading around 112.60 marks. 
  • It made intraday high at 112.80 and low at 112.39 levels. 
  • Japanese industrial output fell sharply in February after shipments dropped. 
  • Combined output from Japan's mines, factories and utilities tumbled 6.2% month-on-month in February, coming in worse than the 5.8% decline forecast by markets. 
  • Pair breaks key support level at 112.60 and confirms bearish trend for the moment. 
  • Initial support levels are seen at 112.60, 111.34 and 110.66 levels. 
  • On the top side, key resistance levels are seen at 113.43, 113.98 and 114.87 marks.


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