FxWirePro: Japanese Yen Gains in Early Asia on Robust Core CPI Data
27 May 2016, 04:15
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FxWirePro: Japanese Yen Gains in Early Asia on Robust Core CPI Data
- USD/JPY is currently trading around 109.76 marks.
- It made intraday high at 109.79 and low at 109.55 levels.
- Today Japan released core CPI data with positive numbers at -0.3% m/m vs -0.4% m/m consensus forecast.
- Intraday bias remains neutral for the moment.
- A sustained close above 110.38 is required to take the parity higher towards key resistances around 111.34 (April 05, 2016 high), 112.60 (55D EMA) and 113.42 levels respectively.
- Alternatively, a sustained break below 109.41 will drag the parity down towards key supports at 108.72, 107.94, 106.15, 105.71, 105.45 and 104.55 levels respectively.
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