USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.52% against the JPY and closed at 78.65.
In the Asian session, at GMT0300, the pair is trading at 78.53, with the USD trading 0.15% lower from yesterday’s close.
Data released this morning in Japan showed that current account surplus rose to ¥433.3 billion in June, topping the forecasts for a surplus of ¥415.4 billion. Additionally, the trade balance reflected a surplus of ¥112.0 billion in June, following a deficit of ¥941.0 billion in May.
The pair is expected to find support at 78.26, and a fall through could take it to the next support level of 77.99. The pair is expected to find its first resistance at 78.77, and a rise through could take it to the next resistance level of 79.01.
Trading trends in the pair today are expected to be determined by the release of machine orders and housing loans data in Japan.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
