USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.26% against the JPY and closed at 83.77.
The greenback paced gains, after a report showed that retail sales in the US improved more than expected in March. In the US, on a monthly basis, the business inventories increased by 0.5% in February, compared to an upwardly revised 1.0% rise recorded in the previous month.
The Federal Reserve’s Beige Book revealed that a broad-based economic recovery in the United States continued at a moderate pace in March.
In the Asian session at 3:00GMT, the pair is trading lower from the New York close, by 0.37%, at 83.46.
The first short term resistance is at 84.07, followed by 84.69. The pair is expected to find support at 83.04 and the subsequent support level at 82.63.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
