FxWirePro: Yen depreciates in early hours of Asia after lower than expected current account, average cash earnings data
USD/JPY is currently trading around 100.91 marks. It made intraday high at 100.62 and low at 100.65 levels. Intraday bias remains slightly bullish till the time pair holds key support at 100.59 marks. A daily close above…
It made intraday high at 100.62 and low at 100.65 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 100.59 marks.
A daily close above 101.76 will take the parity higher towards key resistances around 102.58, 103.78, 104.80, 106.12 and 107.46 levels respectively.
On the other side, a sustained break below 100.58 will drag the parity down towards key supports at 100.19, 99.27 and 98.82 levels respectively.
Today Japan released current account data with negative numbers at ¥1.41 trillion m/m vs ¥1.52 trillion m/m expected.
In addition, average cash earnings for May in Japan fell to 0.2%, missing the 0.5% gain seen year-on-year and compared to flat the previous month.
Later today, U.S. nonfarm pay roll job data will be in focus. Yesterday, U.S. ADP job data released with positive numbers at 172K m/m vs 168K previous release.
