USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.19% against the JPY and closed at 106.33 on Friday.
In the Asian session, at GMT0300, the pair is trading at 106.32, with the USD trading marginally lower against the JPY from Friday’s close.
Overnight data indicated that Japan’s posted a (total) trade deficit of ¥249.6 billion in July, as exports declined for the eighth consecutive month. In the preceding month, the nation had posted a revised surplus of ¥589.6 billion.
The pair is expected to find support at 106.10, and a fall through could take it to the next support level of 105.89. The pair is expected to find its first resistance at 106.51, and a rise through could take it to the next resistance level of 106.71.
In absence of key economic releases in Japan today, investor sentiment would be determined by global macroeconomic events.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
