USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.46% against the JPY and closed at 81.74. In economic news, Japan’s department store sales fell 2.4% (YoY) in October, while its all industry activity eased 0.3% (MoM) in September, against the expectations for a 0.4% decrease.
In the Asian session, at GMT0400, the pair is trading at 81.80, with the USD trading marginally higher from yesterday’s close.
This morning, Japan posted a merchandise trade deficit of ¥549.0 billion in October, following a downwardly revised deficit of ¥561.7 billion in September. Exports declined 6.5% (YoY) to ¥5.149 trillion in October, while imports fell an annual 1.6% to ¥5.698 trillion in October.
The pair is expected to find support at 81.30, and a fall through could take it to the next support level of 80.80. The pair is expected to find its first resistance at 82.13, and a rise through could take it to the next resistance level of 82.47.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
