USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.29% against the JPY and closed at 79.64.
In the US, trade deficit narrowed to $48.7 billion in May, from $50.6 billion in April.
Separately, MBA mortgage applications decreased 2.1% for the week ended July 6.
In the Asian session, at GMT0300, the pair is trading at 79.52, with the USD trading 0.15% lower from yesterday’s close.
The pair is expected to find support at 79.18, and a fall through could take it to the next support level of 78.83. The pair is expected to find its first resistance at 79.83, and a rise through could take it to the next resistance level of 80.13.
In a day ahead, the Bank of Japan (BoJ) is expected to keep its interest rate unchanged at 0.1% at its policy meeting.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
