USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.45% against the JPY and closed at 79.83.
In economic news, factory orders in the US rose 0.7% (MoM) in May, surpassing market expectations for a 0.1% rise. In Japan, labor cash earnings fell 0.8% (YoY) in May, compared to a rise of 0.2% in April.
In the Asian session, at GMT0300, the pair is trading at 79.8, with the USD trading 0.04% lower from yesterday’s close.
The pair is expected to find support at 79.62, and a fall through could take it to the next support level of 79.43. The pair is expected to find its first resistance at 79.96, and a rise through could take it to the next resistance level of 80.11.
With no major release in Japan, the pair is expected to trade on trends in the greenback.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
