USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.11% against the JPY and closed at 109.54.
On the macro front, data showed that Japan’s final leading economic index dropped to a level of 95.9 in March, declining to its lowest level in almost 3 years while preliminary figures had indicated a drop to a level of 96.3. Moreover, the nation’s final coincident index eased to a level of 99.4 in March, compared to a reading of 100.4 in the previous month. The preliminary figures had recorded a drop to 99.6.
In the Asian session, at GMT0300, the pair is trading at 109.49, with the USD trading 0.05% lower against the JPY from yesterday’s close.
The pair is expected to find support at 109.40, and a fall through could take it to the next support level of 109.30. The pair is expected to find its first resistance at 109.61, and a rise through could take it to the next resistance level of 109.72.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
