USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 1.42% against the JPY and closed at 96.89.
In the Asian session, at GMT0300, the pair is trading at 97.06, with the USD trading 0.17% higher from yesterday’s close.
The pair is expected to find support at 96.45, and a fall through could take it to the next support level of 95.84. The pair is expected to find its first resistance at 98.03, and a rise through could take it to the next resistance level of 99.01.
Investors await an official report on Japan’s retail sales and a report on foreign investment in Japanese stocks and bonds during the week ended 23 August 2013.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
