USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.08% against the JPY and closed at 109.82.
In economic news, Japan’s consumer confidence index unexpectedly fell to a level of 43.6 in April, compared to a reading of 44.3 in the previous month and defying market consensus for a rise to a level of 44.5.
In the Asian session, at GMT0300, the pair is trading at 109.66, with the USD trading 0.15% lower against the JPY from yesterday’s close.
The pair is expected to find support at 109.47, and a fall through could take it to the next support level of 109.29. The pair is expected to find its first resistance at 109.94, and a rise through could take it to the next resistance level of 110.23.
The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
