- USD/JPY is currently trading around 108.97 marks.
- It made intraday high at 109.05 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.
The material has been provided by InstaForex Company – www.instaforex.com