USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.15% against the JPY and closed at 77.73.
In the Asian session, at GMT0400, the pair is trading at 77.73, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 77.62, and a fall through could take it to the next support level of 77.51. 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 77.97.
With a series of Japan economic releases today, including Coincident Index and Leading Economic Index, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is showing convergence with its 20 Hr and is trading below its 50 Hr moving average.
