USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.56% against the JPY and closed at 102.04, following an upbeat US jobless claims data.
In the Asian session, at GMT0400, the pair is trading at 102.06, with the USD trading tad higher from yesterday’s close.
Early morning, in Japan, an official report showed that foreign reserves in the nation rose to $1,277.1 billion in January, compared to $1,266.8 billion registered in the preceding month. Separately, data revealed that the nation’s coincident index advanced to a level of 111.7, from previous month’s reading of 110.7 and the leading economic index in the nation rose to a reading of 112.1, from a revised level of 111.0 witnessed in the previous month.
The pair is expected to find support at 101.47, and a fall through could take it to the next support level of 100.87. The pair is expected to find its first resistance at 102.42, and a rise through could take it to the next resistance level of 102.78.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
