FxWirePro: Japanese Yen falls in early Asia ahead of BOJ monetary policy statement
USD/JPY is currently trading around 111.74 marks. It made intraday high at 111.88 and low at 111.36 levels. Intraday bias remains neutral for the moment. A series of economic data from Japan failed to lift Yen ahead of B…
It made intraday high at 111.88 and low at 111.36 levels.
Intraday bias remains neutral for the moment.
A series of economic data from Japan failed to lift Yen ahead of BOJ.
In Japan, household spending eased 5.3% year-on-year in March, more than the 4.2% drop expected.
Japan’s unemployment rate dropped to 3.2% from an expected 3.3% level as well as well as national core CPI dropped 0.3% year-on-year for March.
Japan also reported provisional industrial production for March month-on-month rose 3.6%, more than the 2.9% gain seen, while retail sales slipped 1.1% year-on-year, less than the 1.5% declined expected.
A sustained close above 111.88 will take the parity higher towards 112.60 and 113.42 levels respectively.
Alternatively, a break below 111.23 will drag the parity down towards key supports at 110.95, 110.32, 109.48 and 107.87 levels respectively.
