USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.09% against the JPY and closed at 77.65.
In Japan, yesterday, the Consumer Confidence Index stood at 38.6 in October, unchanged from September. Additionally, this morning, the Tertiary Industry Index declined 0.7% (M-o-M) in September, following a flat reading in the previous month.
This morning, Japanese Finance Minister, Jun Azumi stated that he would keep close watch on the foreign exchange market to see if there are speculative moves driving up the yen.
In the Asian session, at GMT0400, the pair is trading at 77.54, with the USD trading 0.14% lower from yesterday’s close.
The pair is expected to find support at 77.43, and a fall through could take it to the next support level of 77.32. The pair is expected to find its first resistance at 77.72, and a rise through could take it to the next resistance level of 77.90.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
