USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.15% against the JPY and closed at 80.29, amid disappointing Japanese economic data.
In Japan, the leading index declined to a reading of 91.7 in September, against the forecast for a drop to 91.8 and compared to a revised reading of 93.2 in August. Similarly, the coincident index slipped to 91.2 in September, from 93.5 in August.
In the Asian session, at GMT0400, the pair is trading at 80.10, with the USD trading 0.23% lower from yesterday’s close.
The pair is expected to find support at 79.79, and a fall through could take it to the next support level of 79.49. The pair is expected to find its first resistance at 80.43, and a rise through could take it to the next resistance level of 80.75.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
