USDJPY Movement
For the 24 hours to 23:00 GMT, USD traded flat against the JPY and closed at 80.51.
In the Asian session, at GMT0400, the pair is trading at 80.47, with the USD trading 0.05% lower from yesterday’s close.
The Yen is trading higher, after industrial production in Japan rose 2.0% (MoM) in January. However, the Markit/JMMA manufacturing Purchasing Managers Index (PMI) in Japan declined to 50.5 in February.
The pair is expected to find support at 80.13, and a fall through could take it to the next support level of 79.80. The pair is expected to find its first resistance at 80.80, and a rise through could take it to the next resistance level of 81.12.
Trading trends in the pair today are expected to be determined by the release of housing starts and construction orders in Japan.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
