Japan household spending MoM rises for the 1st time in 5 mos
- Prior month -4.0%
- Household Spending -4.2% vs. -4.1% estimate
- Household Spending +0.9% vs. 0.3% estimate
The gain of 0.9% for the month is a welcome number. The month-to-month numbers over the last 4 months have been negative.
The USDJPY is trading at 142.49. The 100-hour moving average is above at 142.62. The last few times above that moving average have failed. It would take a move above to increase bullish bias. On the downside support is at 142.22 and then at the swing area between 141.84 and 142.07 (the 200 hour moving averages at 141.869).
