USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 1.25% against the JPY on Friday and closed at 81.00.
In the US, the Thomson Reuters/University of Michigan index of consumer sentiment was upwardly revised to a reading of 75.3 in February, marking the highest level in a year.
In the Asian session, at GMT0400, the pair is trading at 81.23, with the USD trading 0.28% higher from Friday’s close.
The pair is expected to find support at 80.33, and a fall through could take it to the next support level of 79.42. The pair is expected to find its first resistance at 81.91, and a rise through could take it to the next resistance level of 82.58.
Trading trends in the pair today are expected to be determined by the release of retail trade in Japan.
The currency pair is converging with its 20 Hr and 50 Hr moving averages.
