FXWIREPRO: Japanese Yen Falls Slightly Despite Better Than expected Current Account Data

FXWIREPRO: Japanese Yen Falls Slightly Despite Better Than expected Current Account Data

• USD/JPY is currently trading around 108.65 marks. 
• It made intraday high at 108.81 and low at 108.06 levels. 
• Today Japan released current account data with positive numbers. 
• The current account surplus expanded from ¥520.8 billion in January to ¥2.43 trillion in February, coming in higher than the median analyst forecast of a ¥2.03 trillion surplus. 
• Export receipts grew from ¥5.35 trillion in January to ¥5.64 trillion in February, while import payments fell from ¥5.77 trillion to ¥5.22 trillion. 
• Pair was seen trading at its weakest level in 18 months and touched 107.68 marks. 
• A daily close below 107.68 will take the parity down towards 107.43, 107.09 and 105.72 levels. 
• On the top side, initial resistance levels are seen at 109.68, 111.23, and 112.60 marks.

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