- USD/JPY is currently trading around 110.05 marks.
- It made intraday high at 110.07 and low at 109.84 levels.
- Intraday bias remains neutral for the moment.
- A daily close above 110.38 is required to take the parity higher towards key resistances around 111.23, 112.60 and 113.42 levels respectively.
- Alternatively, a sustained break below 109.69 will drag the parity down towards key support area at 108.27, 107.94, 106.15, 105.71, 105.45 and 104.55 levels respectively.
- Today G7 meetings are attended by finance ministers and central bankers from 7 industrialized nations – Canada, Italy, France, Germany, Japan, the UK, and the US. A formal statement covering policy shifts and meeting objectives is usually released after the meetings have concluded.
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