Japanese Yen (JPY)

The Yen weakened versus the Dollar and the Euro on the momentum from Japan's Finance Minister Comments he might intervene in the foreign exchange market. Prelim Industrial Production came out 1.8% lower than 1.9% forecast and 2.1% prior. Average Cash Earnings came out better showing a drop of only -3.1% versus -3.9% forecast. Overall USD/JPY traded with a low of 89.59 and a high of 90.35 and EUR/JPY traded with a low of 130.69 and a high of 131.79. Today, Tankan Manufacturing Index is expected better with -32 versus -48 prior. Japanese Retail Sales are expected to show no change with -2.4%.

USD/JPY-Last: 89.75 

Resistance

90.35

90.8

91.25

Support

89.5

89.15

88.75

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