USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.92% against the JPY and closed at 97.35.
In economic news, the leading index in Japan declined to a reading of 107.0 in June from 110.7 in May. Additionally, the coincident index fell to 105.2 in June from 106.0 in May.
In the Asian session, at GMT0300, the pair is trading at 97.24, with the USD trading 0.11% lower from yesterday’s close.
On the data front, Japanese trade balance and current account data for June are queued up for release today.
The pair is expected to find support at 96.68, and a fall through could take it to the next support level of 96.13. The pair is expected to find its first resistance at 98.20, and a rise through could take it to the next resistance level of 99.16.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
