Japanese Yen Gains on the Back of Higher Than Expected Household Spending Data
- USD/JPY is currently trading around 113.32 marks.
- It made intraday high at 113.48 and low at 113.28 levels.
- Japanese household spending rose for the first time in six months in February.
- Household spending rose 1.2% year-on-year in February, coming in better than the 1.8% decline forecast by analysts.
- In addition, Japan released unemployment rate with negative numbers at 3.3% m/m vs 3.2% previous release.
- Japan’s retail sales falls to 0.5% m/m vs 1.6% rise forecast by market.
- Initial support levels are seen at 113.11, 112.60 and 111.34 levels.
- On the top side, key resistance levels are seen at 113.43, 113.98 and 114.87 marks.
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