When is the Japan quarterly prelim GDP and how could is affect USD/JPY?

Japan quarterly prelim GDP Overview

The Japan's Cabinet Office will publish its data for the third quarter (Q3) at 23.50 GMT. Gross Domestic Product is estimated to show a contraction of 0.6% QoQ in the Q3, compared to an expansion of 0.5% in the previous reading. Japan's GDP Annualized is projected to show a fall of 2.5% versus a rise of 2.2% prior.

The Gross Domestic Product is a measure of the total value of all goods and services produced in Japan during a given period. The GDP is considered as the main measure of Japan's economic activity. 

How could the Japan quarterly prelim GDP affect USD/JPY?

USD/JPY trades on a flat note on the day in the lead up to the Japan quarterly prelim GDP data. The pair steadies as traders weigh whether the US Federal Reserve (Fed)  is likely to cut rates in December.

If data comes in better than expected, it could lift the Japanese Yen (JPY), with the first upside barrier seen at the November 13 high of 155.02. The next resistance level emerges at the February 3 high of 155.88, en route to the January 23 high of 156.75

To the downside, the November 10 low of 153.41 will offer some comfort to buyers. Extended losses could see a drop to the November 7 low of 152.82. The next contention level is located at the October 29 low of 151.54.