Japanese trade balance show more than estimated deficit
Monday, April 8, 2013
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Trade Balance in Japan record more-than-estimated deficit during the month of February, but the deficit narrowed from its previous reading, which indicates that current changes in monetary policy and BOJ’s leadership still need time to impact.
Japanese economy released its trade balance reading concerning the month of February, where the actual reading recorded more-than-estimated deficit to -677.0 billion yen, compared with a previous reading of -1479.3 billion yen, while analysts’ expectations were -660.1 billion yen.
Meanwhile, Current account total show more-than-estimated recovery in February to record an actual of 637.4 billion yen, compared with a previous reading of-364.8 billion yen, while analysts’ expectation s were 457.5 billion yen.
USDJPY Pivot point support and residence level is at S1: 92.95, S2 95.00, S3 96.28. R1 98.34., R2 99.12, R3 101.20
My recommendation to Re-Buy USDJPY above 96.80 targeting 99.20 & 101.00 with stop below 95.00
Trade Balance in Japan record more-than-estimated deficit during the month of February, but the deficit narrowed from its previous reading, which indicates that current changes in monetary policy and BOJ’s leadership still need time to impact.
Japanese economy released its trade balance reading concerning the month of February, where the actual reading recorded more-than-estimated deficit to -677.0 billion yen, compared with a previous reading of -1479.3 billion yen, while analysts’ expectations were -660.1 billion yen.
Meanwhile, Current account total show more-than-estimated recovery in February to record an actual of 637.4 billion yen, compared with a previous reading of-364.8 billion yen, while analysts’ expectation s were 457.5 billion yen.
USDJPY Pivot point support and residence level is at S1: 92.95, S2 95.00, S3 96.28. R1 98.34., R2 99.12, R3 101.20
My recommendation to Re-Buy USDJPY above 96.80 targeting 99.20 & 101.00 with stop below 95.00
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