FxWirePro: Japanese yen depreciates on the back of lower than expected GDP data
Thursday, June 8, 2017 1:58 AM UTC
- USD/JPY is currently trading around 109.88 marks.
- It made intraday high at 110.01 and low at 109.73 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 109.11 marks.
- A daily close above 109.82 will take the parity higher towards key resistances around 110.51, 111.22, 111.84, 112.62, 113.79, 114.88, 115.50, 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.
- On the other side, a sustained close below 109.82 will drag the parity down towards key supports around 108.88, 108.32, 106.72, 106.03 and 104.96 levels respectively.
- Japan’s Q1 GDP q/q private consumption revised decrease to 0.3 % vs previous 0.4 %.
- Japan’s Q1 GDP cap ex rev q/q increase to 0.6 % (forecast 0.5 %) vs previous 0.2 %.
- Japan’s Q1 GDP revised q/q decrease to 0.3 % (forecast 0.6 %) vs previous 0.5 %.
- Japan’s April current account decrease to 1951.9 bln jpy (forecast 1698.8 bln jpy) vs previous 2907.7 bln jpy.