USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.73% against the JPY, on Friday, and closed at 77.72. Japanese Yen came under pressure, after Japan’s Finance Minister, Jun Azumi reiterated on Friday that the country would again take steps if there are speculative movements in the foreign exchange market.
In the Asian session, at GMT0400, the pair is trading at 77.64, with the USD trading 0.10% lower from Friday’s close.
The pair is expected to find support at 77.37, and a fall through could take it to the next support level of 77.1. The pair is expected to find its first resistance at 77.85, and a rise through could take it to the next resistance level of 78.06.
The pair is expected to trade on the cues from the release of unemployment rate and retail trade data in Japan.
The currency pair is trading just above its 20 Hr moving average and well above its 50 Hr moving average.
