USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.84% against the JPY and closed at 83.10.
In Japan, today morning, the Nomura/ JMMA Manufacturing Purchasing Manager Index declined to 46.4 in March from a reading of 52.9 in February. Additionally, Automobile Manufacturers Association (JAMA) reported that on an annual basis, the auto production in Japan declined 5.5% to 795,632 units in February, posting the fifth straight monthly decline.
In the Asian session at 3:00GMT, the pair is trading lower from the New York close, by 0.34%, at 82.82.
The first short term resistance is at 83.13, followed by 83.45. The pair is expected to find support at 82.59 and the subsequent support level at 82.37.
With a series of Japan economic releases today, including annualized housing starts and construction orders, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
