Fxwirepro: Yen Gains in Early Hours of Asia on the Back of Higher Than expected Sppi Data

USD/JPY is currently trading around 104.91 marks.
It made intra-day high at 105.89 and low at 104.76 levels. Intraday bias remains slightly bearish for the moment.
A daily close above 106.12 will take the parity higher towards key resistances around 106.72, 107.49, 107.90 and 109.13 levels respectively.
On the other side, a sustained break below 105.42 will drag the parity down towards key supports at 104.62, 103.97, 102.45, 101.47, 100.59, 99.99, 99.27 and 98.78 levels respectively.
Today Japan released SPPI data with positive numbers at 0.2% m/m vs 0.1% m/m consensus forecast.
It's a leading indicator of consumer inflation - when corporations pay more for services the higher costs are usually passed on to the consumer.

News are provided by InstaForex