USDJPY Movement
On Friday, the USD weakened 0.10% against the JPY and closed at 123.79.
In the Asian session, at GMT0300, the pair is trading at 123.48, with the USD trading 0.25% lower from Friday’s close.
Overnight data revealed that Japan’s corporate service price index rose 0.4% YoY in June, compared to an advance of 0.6% in the previous month.
The pair is expected to find support at 123.25, and a fall through could take it to the next support level of 123.03. The pair is expected to find its first resistance at 123.91, and a rise through could take it to the next resistance level of 124.34.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
