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