FxWirePro: Yen gains in early hours of Asia on the back of higher than expected flash manufacturing PMI data
Friday, July 22, 2016 2:17 AM UTC
- USD/JPY is currently trading around 105.80 marks.
- It made intraday high at 106.25 and low at 105.56 levels.
- Intraday bias remains slightly bearish for the moment.
- A daily close above 106.12 will take the parity higher towards key resistances around 107.49, 107.90 and 109.13 levels respectively.
- On the other side, a sustained break below 105.42 will drag the parity down towards key supports at 104.62, 103.97, 102.45, 101.47, 100.59, 99.99, 99.27 and 98.78 levels respectively.
- Japan's July Nikkei manufacturing PMI flash increase to 49.0 vs previous 48.1.
- It shows export demand contracts at fastest in more than 3 1/2 years.