FXWIREPRO: USD/JPY Hovers Around Key Resistance at 108.04, Intraday Bias Remains Slightly Bullish
12 April 2016, 06:29
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FXWIREPRO: USD/JPY Hovers Around Key Resistance at 108.04, Intraday Bias Remains Slightly Bullish
- USD/JPY is currently trading around 108.17 marks.
- It made intraday high at 108.26 and low at 107.87 levels.
- Today Japan released bank lending data with negative numbers at 2.0% m/m vs 2.2% previous release.
- Pair was seen trading at its weakest level in 18 months and touched 107.63 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 107.93 marks.
- A daily close below key support will take the parity down towards 107.43, 107.09 and 105.72 levels.
- On the top side, initial resistance levels are seen at 108.04, 109.68, 111.23, and 112.60 marks respectively.
The material has been provided by InstaForex Company - www.instaforex.com
