TRADING TIPS :
USD/JPY hit 117.39 during late Asian
trade, the session low; the pair subsequently consolidated at 117.86,
declining 0.38%. Apreliminary report earlier showed that Japanese
industrial production rose 1.0% in December, confounding expectations
for an increase of 1.3%, after a 0.5% fall the previous month.A
separate report showed that household spending in Japan rose 0.4%
last month, below expectations for a 0.3% gain, after a 0.4% uptick
in November. Data also showed that Tokyo’s consumer price inflation
advanced 2.3% this month, exceeding expectations for a 2.2% rise and
after a 2.1% rise in December.Tokyo’s core consumer price
inflation, which excludes fresh food, rose 2.2% in January, in line
with expectations, after a 2.3% increase in December.
INTRADAY
OUTLOOK
Support:
117.07
Resistance:
117.76
RECOMMENDATION:
1.
Buy USD/JPY Above 117.78-TG: 117.98/118.28 SL 117.48
2.
Sell USD/JPY Below 117.05-TG: 116.85/116.55 SL 117.35
INTRADAY
OUTLOOK
Immediate
Support: 1.1269
Immediate
Resistance: 1.1340
RECOMMENDATION:
1.
Buy EUR/USD Above -1.1342 TG: 1.1362/1.1392 SL 1.1312
2.
Sell EUR/USD Below -1.1267 TG:1.1247/1.1217 SL 1.1297
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