USD/JPY: Japan leading index post a positive surprise
The Japan Leading Economic Index was better than expected in April in final reading
The Japan Leading Economic Index was released at 77.7 for April in final reading vs 76.2 in first estimate and 85.1 in March.
From a technical point of view, on a daily chart, the pair remains struggling below its resistance at 108.05 and stands below its 50-day moving average (in blue). The daily RSI remains within its selling area. Readers may therefore consider the potential for further weakness below resistance at 108.50. the closest support would be set at 106.00 (June bottom) and a other would be set at 105.15 (horizontal resistance) in extension.
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