- USD/JPY is currently trading around 106.05 marks.
- It made intraday high at 106.42 and low at 105.93 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 close below 106.00 will drag the parity down towards key supports at 105.19 (October 15, 2014 low) and 104.55 levels respectively.
- Today Japan will release revised industrial production data at 0430 GMT. Market expects a rise to 0.4% m/m vs 0.3% m/m previous release.
The material has been provided by InstaForex Company – www.instaforex.com