USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.52% against the JPY and closed at 78.30.
In the Asian session, at GMT0300, the pair is trading at 78.40, with the USD trading 0.13% higher from yesterday’s close.
Today morning, Japan recorded a current account surplus of ¥454.7 billion in August, against the forecasts for a surplus of ¥421.1 billion and compared to a surplus of ¥625.4 billion in July. Meanwhile, the trade deficit widened ¥644.5 billion, compared to a ¥373.6 billion deficit in the previous month. Additionally, exports fell 5.3% (YoY) to ¥4.844 trillion in August.
The pair is expected to find support at 78.11, and a fall through could take it to the next support level of 77.82. The pair is expected to find its first resistance at 78.66, and a rise through could take it to the next resistance level of 78.92.
Trading trends in the pair today are expected to be determined by the releases of the Bank of Japan monthly economic survey and the eco watchers survey.
The currency pair is trading above its 20 Hr moving average and below its 50 Hr moving average.
