USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.14% against the JPY and closed at 76.48.
In Japan, yesterday, the leading index was revised lower to a reading of 104.6 in July, from 102.6 in the previous month. The coincident index was revised downwards to a reading of 107.1 in July, from 107.4 in the previous month.
Additionally, this morning, Japan recorded a trade deficit of ¥775.3 billion in August, compared to trade surplus of ¥70 billion in the previous month.
In the Asian session at 3:00GMT, the dollar is trading lower against yen from yesterday’s close at 23:00 GMT, by 0.20%, at 76.33.
The first short term resistance is at 76.65, followed by 76.98. The pair is expected to find support at 76.06 and the subsequent support level at 75.80.
Trading trends in the pair today are expected to be determined by release of All Industry Activity Index in Japan.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
