USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.78% against the JPY and closed at 79.36.
In the US, Federal Reserve in its Beige book economic survey stated that the US economy grew moderately in most regions of the country this spring and companies kept hiring.
In the Asian session, at GMT0300, the pair is trading at 79.33, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 78.89, and a fall through could take it to the next support level of 78.44. The pair is expected to find its first resistance at 79.59, and a rise through could take it to the next resistance level of 79.84.
Trading trends in the pair today are expected to be determined by the release of gross domestic product (GDP) and current account data in Japan.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
