USDJPY Movement`
For the 24 hours to 23:00 GMT, USD weakened 0.21% against the JPY and closed at 77.12.
In the US, the number of employed people in non-farm private business sector rose 114,000 in July, in comparison with downwardly revised 145,000 jobs registered in June. The factory orders declined 0.8% M-o-M in June, following a 0.6% growth in May.
Bank of Japan intervened in the foreign-exchange market for the first time since March to stem gains in the currency that threatens the nation’s economic recovery.
In the Asian session at 3:00GMT, the pair is trading higher from yesterday’s close at 23:00 GMT, by 2.36%, at 78.94.
The first short term resistance is at 79.70, followed by 80.46. The pair is expected to find support at 77.46 and the subsequent support level at 75.98.
The currency pair is trading well above its 20 Hr and its 50 Hr moving averages.
