USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 1.07% against the JPY and closed at 79.64.
In the Asian session, at GMT0300, the pair is trading at 79.68, with the USD trading 0.05% higher from yesterday’s close.
This morning, corporate service price in Japan rose less-than-expected by 0.1% (YoY) in May against the market expectation of 0.3% rise.
The pair is expected to find support at 79.30, and a fall through could take it to the next support level of 78.91. The pair is expected to find its first resistance at 80.21, and a rise through could take it to the next resistance level of 80.73.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
