The Yen weakened versus the Dollar and most other majors after stronger than expected economic data led investors to favor higher yielding assets and not the Yen. Monetary Base came out 4.9% as expected but Average Cash Earnings came out weaker with -6.1% versus -2.6% expected. Overall, USD/JPY traded with a low of 89.99 and a high of 90.94. USD/JPY has crossed above 50 and 100 moving day averages and seems to be forming a bullish trend. The next major resistance is near 91. No economic data expected today.

USD/JPY-Last: 90.60

Resistance

91.20

91.55

91.90

Support

90.35

90.00

89.60

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