FxWirePro: Japanese Yen Falls in Early Asia on the Back of Lower Than expected PPI Data

FxWirePro: Japanese Yen Falls in Early Asia on the Back of Lower Than expected PPI Data

16 May 2016, 04:16
Roberto Jacobs
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FxWirePro: Japanese Yen Falls in Early Asia on the Back of Lower Than expected PPI Data

  • USD/JPY is currently trading around 108.80 marks. 
  • It made intraday high at 108.84 and low at 108.46 levels. 
  • Today Japan released PPI data with negative numbers at -4.2% m/m vs -3.8% m/m previous release.
  • Intraday bias remains bullish till the time pair holds initial support at 108.27 marks. 
  • A sustained break below 108.27 will drag the parity down towards 107.94, 106.15, 105.71, 105.45 and 104.55 levels respectively. 
  • Alternatively, a daily close above 109.32 will drag the parity up towards 111.23, 112.60 and 113.42 levels respectively.



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