USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.65% against the JPY and closed at 105.35.
In the Asian session, at GMT0300, the pair is trading at 105.49, with the USD trading 0.13% higher against the JPY from yesterday’s close.
Overnight data showed Japan posted a total merchandise trade surplus of ¥11.6 billion in July, compared to a revised deficit of ¥269.3 billion in the prior month.
The pair is expected to find support at 105.15, and a fall through could take it to the next support level of 104.80. The pair is expected to find its first resistance at 105.79, and a rise through could take it to the next resistance level of 106.08.
Amid a lack of macroeconomic releases in Japan today, investor sentiment would be determined by global macroeconomic factors.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
