FxWirePro: Yen Continues to Add Strength Against US Dollar, Intraday Bias Remains Bearish

FxWirePro: Yen Continues to Add Strength Against US Dollar, Intraday Bias Remains Bearish

9 June 2016, 06:41
Roberto Jacobs
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FxWirePro: Yen Continues to Add Strength Against US Dollar, Intraday Bias Remains Bearish

  • USD/JPY is currently trading around 106.60 marks. 
  • It made intraday high at 107.08 and low at 106.51 levels. 
  • Intraday bias remains bearish till the time pair holds key resistance at 107.38 marks. 
  • A daily close above 107.38 is required to take the parity higher towards key resistances around 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively. 
  • On the other side, a sustained break below 106.35 will drag the parity down towards key supports at 105.71, 105.45 and 104.55 levels respectively. 
  • Today Japan released core machinery orders with negative numbers at -11.0% m/m vs 5.5% m/m previous release. In addition, M2 money stock remains flat at 3.4% m/m.


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