FxWirePro: Japanese Yen gains in early hours despite lower than expected BSI manufacturing index data
Monday, June 13, 2016 1:26 AM UTC
- USD/JPY is currently trading around 106.43 marks.
- It made intraday high at 106.84 and low at 106.36 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 107.38 marks.
- A daily close above 107.38 is required to take the parity higher towards key resistances around 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively.
- On the other side, a sustained break below 106.25 will drag the parity down towards key supports at 105.71, 105.45 and 104.55 levels respectively.
- Today Japan released BSI manufacturing index with negative numbers at -11.1% q/q vs -7.9% q/q previous release.