FxWirePro: Yen depreciates in early hours of Asia after lower than expected current account, average cash earnings data
Friday, July 8, 2016 1:15 AM UTC
- 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 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.