USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.54% against the JPY and closed at 100.94, as investors cashed in on the greenback’s previous session surge.
Early yesterday, Japan’s Eco watchers survey index for the current economic conditions declined to a reading of 53.0 in June, while the Eco watchers survey index for future economic situation dropped to a reading of 53.6 in June.
In the Asian session, at GMT0300, the pair is trading at 101.08, with the USD trading 0.14% higher from yesterday’s close.
Data released this morning in Japan indicated that M3 money supply increased 3.0% (YoY) in June, while the M2+CD money supply climbed 3.8% (YoY) in June.
The pair is expected to find support at 100.76, and a fall through could take it to the next support level of 100.45. The pair is expected to find its first resistance at 101.40, and a rise through could take it to the next resistance level of 101.72.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
