FxWirePro: Japanese Yen appreciates on strong household spending, industrial production data
USD/JPY is currently trading around 110.90 marks. It made intraday high at 111.15 and low at 110.79 levels. Today Japan released a number of economic data with positive note. Japan’s household spending rose -0.4% m/m vs …
It made intraday high at 111.15 and low at 110.79 levels.
Today Japan released a number of economic data with positive note. Japan’s household spending rose -0.4% m/m vs -5.3% m/m previous release. In addition, Unemployment held steady at 3.2% m/m as expected.
On the other side, industrial production for April rose 0.3% m/m, better than the expected -1.4% m/m.
Intraday bias remains neutral for the moment.
A daily close above 111.43 is required to take the parity higher towards key resistances around 112.60 (55D EMA) and 113.42 levels respectively.
Alternatively, a sustained break below 110.35 will drag the parity down towards key supports at 108.72, 107.94, 106.15, 105.71, 105.45 and 104.55 levels respectively.
