USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.14% against the JPY and closed at 79.29.
In Japan, the all industry activity index rose 0.2% (MoM) in June, from a revised 0.2% drop in May.
In the Asian session, at GMT0300, the pair is trading at 79.24, with the USD trading 0.06% lower from yesterday’s close.
Data released this morning showed that merchandise trade deficit in Japan stood at ¥517.382 billion in July, against the forecast of ¥270.0 billion deficit, and compared to the downwardly revised ¥60.3 billion surplus in June.
The pair is expected to find support at 79.10, and a fall through could take it to the next support level of 78.95. The pair is expected to find its first resistance at 79.46, and a rise through could take it to the next resistance level of 79.67.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
