USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.56% against the JPY and closed at 77.43.
Japan’s Consumer Price Index (CPI) in Japan advanced 0.2% (Y-o-Y) in July, whereas, the core CPI edged up 0.1% (Y-o-Y) in July, following a 0.2% (Y-o-Y) rise recorded in June.
In the Asian session at 3:00GMT, the dollar is trading lower against yen from yesterday’s close at 23:00 GMT, by 0.21% at 77.27.
The first short term resistance is at 77.71, followed by 78.15. The pair is expected to find support at 76.82 and the subsequent support level at 76.37.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
