Japan trade balance surplus expected to grow

NEW YORK (Forex News Now) – The Japanese Ministry of Finance is due on Tuesday to publish key data on the trade balance, in a major realtime forex news event.

The report is expected to show that the difference in value between imports and exports rose to a surplus of 0.63 billion in November, according to two major online FX trading news outlets, up from a surplus of 0.58 billion the previous month.

The ministry is scheduled to release the report at 11:50 P.M., GMT; as such the data should have an impact on currency market trading the following day.

According to USD/JPY analysis, a lower-than-forecast surplus could lift the currency pair toward short-term resistance around the Dec. 15 high of 84.50.

But should the data show a greater-than-forecast surplus, the currency pair could push toward short-term support around the Dec. 13 low of 83.10.

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.