FxWirePro: USD/JPY refrains from falling below 106 mark, Japan’s PPI data meets expectations
USD/JPY is currently trading around 107.17 marks. It made intraday high at 107.22 and low at 106.90 levels. Intraday bias remains bullish till the time pair holds key support at 106.15 marks. A daily close above 107.38 i…
It made intraday high at 107.22 and low at 106.90 levels.
Intraday bias remains bullish till the time pair holds key support at 106.15 marks.
A daily close above 107.38 is required to take the parity higher towards key resistances around 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively.
On the other side, a sustained break below 106.25 will drag the parity down towards key supports at 105.71, 105.45 and 104.55 levels respectively.
Japan’s May corporate goods price Y/Y stays flat at -4.2 % (forecast -4.2 %) vs previous -4.2 %.
In addition, Japan’s May corporate goods price m/m increase to 0.2 % (forecast 0.1 %) vs previous -0.3 %.
