USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.44% against the JPY and closed at 78.82, as weak US retail sales for June boosted hopes of further policy easing in the US.
In the Asian session, at GMT0300, the pair is trading at 78.91, with the USD trading 0.11% higher from yesterday’s close.
The pair is expected to find support at 78.69, and a fall through could take it to the next support level of 78.46. The pair is expected to find its first resistance at 79.14, and a rise through could take it to the next resistance level of 79.36.
Trading trends in the pair today are expected to be determined by the release of Bank of Japan (BoJ) minutes of 14-15 June board meeting.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
