USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.18% against the JPY and closed at 93.61.
In the Asian session, at GMT0400, the pair is trading at 93.49, with the USD trading 0.12% lower from yesterday’s close.
Data released this morning indicated that trade deficit in Japan narrowed to ¥567.6 billion in December, compared to a deficit of ¥847.5 billion recorded in November.
The pair is expected to find support at 93.07, and a fall through could take it to the next support level of 92.64. The pair is expected to find its first resistance at 93.92, and a rise through could take it to the next resistance level of 94.35.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
