FxWirePro: Japanese Yen Gains in Early Asia on Robust Cash Earnings Data

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.
  

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