USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.38% against the JPY and closed at 100.34.
In the Asian session, at GMT0300, the pair is trading at 100.24, with the USD trading 0.1% lower against the JPY from yesterday’s close.
Macroeconomic data indicated that, Japan’s flash manufacturing PMI inched higher to a level of 49.6 in August, advancing for the first time in six months but remained in the contraction territory for sixth straight month. The index recorded a reading of 49.3 in the previous month.
The pair is expected to find support at 99.86, and a fall through could take it to the next support level of 99.49. The pair is expected to find its first resistance at 100.77, and a rise through could take it to the next resistance level of 101.31.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
