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FxWirePro: Japanese yen strengthens in early hours of Asia on robust retail sales data

  • USD/JPY is currently trading around 110.84 marks.
     
  • It made intraday high at 111.29 and low at 110.77 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 111.46 marks.

  • A daily close above 111.25 will take the parity higher towards key resistances around 111.84, 112.62, 113.79, 114.88, 115.50, 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.
     
  • On the other side, a sustained close below 111.25 will drag the parity down towards key supports around 110.23, 109.60, 108.32, 106.72, 106.03 and 104.96 levels respectively.
     
  • Japan’s April jobs/applicants ratio increase to 1.48 (forecast 1.46) vs previous 1.45.
     
  • Japan’s April unemployment rate stays flat at 2.8 % (forecast 2.8 %) vs previous 2.8 %.
     
  • Japan’s April all household spending m/m increase to 0.5 % (forecast 1.1 %) vs previous -2 %.
     
  • Japan’s April retail sales y/y increase to 3.2 % (forecast 2.3 %) vs previous 2.1 %.
  • Market Data
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