FxWirePro: USD/JPY Falls Below 107.10, Hits Lowest Level Since October 2014
- USD/JPY is currently trading around 107.24 marks.
- It made intraday high at 108.19 and low at 107.07 levels.
- Intraday bias remains bearish for the moment.
- A daily close below 107.87 will drag the parity down towards key supports at 106.82, 106.27 and 105.71 levels respectively.
- Alternatively, reversal from key support will take the parity higher towards key resistances at 107.87, 109.49, 111.23, 112.60 and 113.42 levels respectively.
- Important to note here that today PBOC set stronger Yuan reference rate against UD dollar than a day earlier.
- PBOC sets Yuan mid-point at 6.4589 / dollar vs last close 6.4779, showing an appreciation around 0.6% on Thursday's fix of 6.4954, the biggest daily gain since July 2005.