USDJPY Movement
On Friday, the USD weakened 1.06% against the JPY and closed at 98.20,
In the Asian session, at GMT0300, the pair is trading at 97.88, with the USD trading 0.33% lower from Friday’s close.
In the morning release, retail trade in Japan rose 1.6% annually in June, while the large retailers’ sales rose 3.5% (YoY) in June.
The pair is expected to find support at 97.36, and a fall through could take it to the next support level of 96.84. The pair is expected to find its first resistance at 98.68, and a rise through could take it to the next resistance level of 99.47.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
