USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 1.06% against the JPY on Friday, and closed at 82.42, after stronger-than-forecasted US employment data dampened expectations for a fresh round of monetary easing by the Federal Reserve.
The US economy added 227,000 new jobs in February, surpassing expectations for a gain of 215,000.
In the Asian session, at GMT0400, the pair is trading at 82.29, with the USD trading 0.16% lower from Friday’s close. The Yen is trading higher after Japan’s core machinery orders rose in January.
Data released this morning showed that the core machine orders in Japan climbed a seasonally adjusted 3.4% (MoM) in January, compared to a fall of 7.1% in December. Additionally, Domestic Corporate Goods Price Index, on a monthly basis, rose 0.2% in February, compared to a fall of 0.1% in January.
The pair is expected to find support at 81.62, and a fall through could take it to the next support level of 80.96. The pair is expected to find its first resistance at 82.80, and a rise through could take it to the next resistance level of 83.31.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
