USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.62% against the JPY and closed at 97.28.
In the Asian session, at GMT0300, the pair is trading at 97.25, with the USD trading marginally lower from yesterday’s close.
Data released this morning indicated that labour cash earnings in Japan fell 0.6% (YoY) in March, less than a expected 1.2% decline and compared to a downwardly revised fall of 0.8% reported in February.
The pair is expected to find support at 96.83, and a fall through could take it to the next support level of 96.40. The pair is expected to find its first resistance at 97.84, and a rise through could take it to the next resistance level of 98.43.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
