USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.47% against the JPY and closed at 82.86.
In the Asian session, at GMT0300, the pair is trading at 82.84, with the USD trading 0.03% lower from yesterday’s close.
Data released this morning showed that corporate service prices fell 0.6% (YoY) in February compared to a drop of 0.4% in January.
The pair is expected to find support at 82.59, and a fall through could take it to the next support level of 82.33. The pair is expected to find its first resistance at 83.07, and a rise through could take it to the next resistance level of 83.29.
Trading trends in the pair today are expected to be determined by the release of small business confidence data in Japan.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
