USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.15% against the JPY and closed at 80.89.
In Japan, today morning, trade balance showed a surplus of ¥654.11 billion in February, following a deficit of ¥471.4 billion recorded in January.
In the Asian session at 4:00GMT, the pair is trading higher from the New York close, by 0.11%, at 80.98.
The first short term resistance is at 81.15, followed by 81.31. The pair is expected to find support at 80.74 and the subsequent support level at 80.49.
With a series of Japan economic releases today, including national consumer price index and Tokyo consumer price index, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
