USDJPY Movement
For the 24 hours to 23:00 GMT, USD flat against the JPY and closed at 79.87.
In the US, the IBD and TIPP reported that the Economic Optimism Index declined to a reading of 48.5 in May, compared to a reading of 49.3 posted in April. Meanwhile in Japan, official reserve assets climbed to $1289.5 billion in April, compared to $1288.7 billion in March.
In the Asian session, at GMT0300, the pair is trading at 79.85, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 79.68, and a fall through could take it to the next support level of 79.51. The pair is expected to find its first resistance at 80.05, and a rise through could take it to the next resistance level of 80.25.
Trading trends in the pair today are expected to be determined by the release of leading index, trade balance and coincident index data in Japan.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
