USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.27% against the JPY and closed at 76.76.
In Japan, this morning, the unemployment rate declined to 4.3% in August from 4.7% in the previous month. The National Consumer Price Index steadied at 0.2% (Y-o-Y) compared to the previous month. Additionally, the industrial production rose 0.8% in August following a 0.4% rise in the previous month.
In the Asian session at 3:00GMT, the Dollar is trading lower against Yen from yesterday’s close at 23:00 GMT, by 0.23%, at 76.58.
The first short term resistance is at 76.93, followed by 77.28. The pair is expected to find support at 76.33 and the subsequent support level at 76.08.
Trading trends in the pair today are expected to be determined by release of housing data in Japan.
The currency pair is showing convergence with its 50 Hr moving average and is trading below its 20 Hr moving average.
