USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.18% against the JPY and closed at 79.50.
In Japan, small business confidence fell to 46.2 in June, compared to a reading of 47.2 in May.
In the Asian session, at GMT0300, the pair is trading at 79.42, with the USD trading 0.1% lower from yesterday’s close on risk aversion ahead of the EU summit.
The pair is expected to find support at 79.18, and a fall through could take it to the next support level of 78.93. The pair is expected to find its first resistance at 79.72, and a rise through could take it to the next resistance level of 80.01.
Trading trends in the pair today are expected to be determined by the release of Nomura/JMMA manufacturing purchasing manager index (PMI) and retail sales in Japan.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
