USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.33% against the JPY and closed at 83.68.
In the Asian session, at GMT0400, the pair is trading at 83.66, with the USD trading 0.02% lower from yesterday’s close.
Data just released showed that the all industry activity index in Japan fell 1.0% (MoM) in January, reversing a 1.6% rise in December.
The pair is expected to find support at 83.38, and a fall through could take it to the next support level of 83.09. The pair is expected to find its first resistance at 83.89, and a rise through could take it to the next resistance level of 84.12.
Trading trends in the pair today are expected to be determined by the release of convenience store sales and merchandise trade balance data in Japan.
The currency pair is trading just above its 20 Hr and well above its 50 Hr moving average.
