USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.60% against the JPY and closed at 81.16.
The leading index in Japan rose to 96.3 in February, compared to reading of 94.6 in January. Meanwhile, the coincident index rose to 95.0 in February, from a revised reading of 94.1 in January.
In the Asian session, at GMT0300, the pair is trading at 80.96, with the USD trading 0.25% lower from yesterday’s close.
The pair is expected to find support at 80.77, and a fall through could take it to the next support level of 80.59. The pair is expected to find its first resistance at 81.28, and a rise through could take it to the next resistance level of 81.60.
Trading trends in the pair today are expected to be determined by machine tool orders data in Japan.
The currency pair is trading lower its 20 Hr and 50 Hr moving averages.
