FxWirePro: Yen gains sharply in early Asia after corporate price index data, intraday bias remains bearish
USD/JPY is currently trading around 109.46 marks. It made intraday high at 110.23 and low at 109.43 levels. Today Japan released corporate service price index data with flat numbers at 0.2% m/m as expected. Intraday bias…
It made intraday high at 110.23 and low at 109.43 levels.
Today Japan released corporate service price index data with flat numbers at 0.2% m/m as expected.
Intraday bias remains bearish for the moment.
A sustained close above 110.38 is required to take the parity higher towards key resistances around 111.34 (April 05, 2016 high), 112.60 (55D EMA) and 113.42 levels respectively.
Alternatively, a sustained break below 109.17 will drag the parity down towards key supports at 108.72, 107.94, 106.15, 105.71, 105.45 and 104.55 levels respectively.
