USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.04% against the JPY and closed at 81.31.
On the economic front, small business sentiment in Japan came in at 47.6 in April, down from 48.7 a month ago. Additionally, machine tool orders in Japan rose 1.6% (YoY) in March, up from 8.4% decline in February.
In the Asian session, at GMT0300, the pair is trading at 81.15, with the USD trading 0.20% lower from yesterday’s close.
The pair is expected to find support at 80.92, and a fall through could take it to the next support level of 80.69. The pair is expected to find its first resistance at 81.54, and a rise through could take it to the next resistance level of 81.93.
With a series of Japanese economic releases today, including industrial production and retail trade, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
