FxWirePro: Japanese Yen falls in Early Hours After Lower Than expected Cash Earnings Data
- USD/JPY is currently trading around 108.90 marks.
- It made intraday high at 109.13 and low at 108.74 levels.
- Today Japan released average cash earnings data with negative numbers at 0.3% m/m vs 1.5% m/m previous release. It is well below the 0.9% gain seen year-on-year.
- Intraday bias remains neutral for the moment.
- A sustained break below 108.72 will drag the parity down towards key supports at 107.94, 106.15, 105.71, 105.45 and 104.55 levels respectively.
- On the other side, a daily close above 109.58 is required to take the parity higher towards key resistances around 110.44, 112.60 (55D EMA) and 113.42 levels respectively.