USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.15% against the JPY, on Friday, and closed at 77.52.
In Japan, this morning, the Domestic Corporate Goods Price Index rose 0.1% (MoM) in November, following the 0.7% decline in October.
In the Asian session, at GMT0400, the pair is trading at 77.63, with the USD trading 0.15% higher from Friday’s close.
The pair is expected to find support at 77.49, and a fall through could take it to the next support level of 77.35. The pair is expected to find its first resistance at 77.78, and a rise through could take it to the next resistance level of 77.93.
Trading trends in the pair today are expected to be determined by release of Consumer Confidence Index and Tertiary Industry Index in Japan.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
