USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.86% against the JPY, on Friday, and closed at 80.26.
The greenback was under pressure on Friday after release of poor US employment data, raising concerns over the economic recovery. The US economy added 54,000 jobs in May against the market expectations to add 170,000 jobs in May. Meanwhile, the unemployment rate in the US edged up to 9.1% in May, compared to an unemployment rate of 9.0% reported in April.
In the Asian session at 3:00GMT, the pair is trading flat from yesterday’s close at 23:00 GMT, at 80.25.
The first short term resistance is at 80.68, followed by 81.11. The pair is expected to find support at 79.92 and the subsequent support level at 79.59.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
