FxWirePro: Japanese Yen gains in early Asia on robust core machinery orders in March
Thursday, May 19, 2016 1:33 AM UTC
- USD/JPY is currently trading around 110.12 marks.
- It made intraday high at 110.23 and low at 110.06 levels.
- Today Japan released core machinery orders data with positive numbers to 5.5% m/m vs -9.2% m/m previous release.
- Intraday bias remains neutral for the moment.
- Pair remains well supported above 110.00 marks after Fed meeting minutes, which surprisingly revealed a potential hike in June.
- Alternatively, a sustained break below 108.72 will drag the parity down towards 108.27, 107.94, 106.15, 105.71, 105.45 and 104.55 levels respectively.
- On the top side, key resistance levels are seen at 111.23, 112.60 and 113.42 levels respectively.