FxWirePro: Japanese Yen Gains in Early Asia on Robust Cash Earnings Data
- USD/JPY is currently trading around 107.31 marks.
- It made intraday high at 107.62 and low at 107.03 levels.
- Japan's average cash earnings rose 1.4% year-on-year in March, coming in stronger than the median analyst forecast of a 0.6% increase and 0.7% m/m previous release.
- Intraday bias remains neutral for the moment.
- A daily close below 106.80 will drag the parity down towards key supports at 106.15, 105.71, 105.45 and 104.55 levels respectively.
- Alternatively, reversal from key support will take the parity higher towards key resistances at 107.87, 109.49, 111.23, 112.60 and 113.42 levels respectively.
- Japan will release consumer confidence data at 0500 GMT.