During the Asian session, we followed the Trade Balance data from the Japanese frontline. Foreign trade surplus in the country amounted to 641.4 billion yen, compared with a 270 billion yen expectation, along with the sharp rise in exports and the impact of imports' retrenchment. Even though the surplus of surplus over expectations has led to a slight retreat in the USD/JPY parity, the pair has maintained a strong outlook this morning.
Technically speaking, persistence above the 113.00 level is crucial for the USD/JPY's gains to be visible, with the numbers at 114.00 and 114.80, respectively. In the case of weak USD/JPY trading, 112.40 and 111.60 support levels can be followed. When we look at the February 2017 forecasts of USD/JPY parity, the first expectations will be a bit negative for the traders.
- Date: 28 January 2017 Sat 16:21
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