USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.47% against the JPY and closed at 82.39.
In the US, the Institute for Supply Management (ISM) indicated that its non-manufacturing index dropped to a reading of 56.0 in March from 57.3 in February.
In the Asian session, at GMT0300, the pair is trading at 82.21, with the USD trading 0.22% lower from yesterday’s close.
The pair is expected to find support at 81.95, and a fall through could take it to the next support level of 81.69. The pair is expected to find its first resistance at 82.62, and a rise through could take it to the next resistance level of 83.03.
With no key Japanese economic releases in the day ahead, JPY is expected to ride on general market cues against the greenback.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
