USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.26% against the JPY and closed at 79.71.
In the Asian session, at GMT0300, the pair is trading at 79.41, with the USD trading 0.38% lower from yesterday’s close.
The Yen received support after a report showed that on seasonally adjusted basis retail sales in Japan rose 0.7% (MoM) May, following a 0.4% drop in April.
The pair is expected to find support at 79.23, and a fall through could take it to the next support level of 79.05. The pair is expected to find its first resistance at 79.73, and a rise through could take it to the next resistance level of 80.05.
Trading trends in the pair today are expected to be determined by unemployment rate, industrial production and consumer price index data in Japan.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
