USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.21% against the JPY and closed at 107.05.
In the Asian session, at GMT0300, the pair is trading at 107.34, with the USD trading 0.26% higher from yesterday’s close.
Data released this morning indicated that, Japanese capacity utilization fell 0.8%, on a monthly basis in July, compared to a drop of 3.3% in the prior month, while the industrial production rose 0.4%, from a 3.4% fall registered in the same period.
The pair is expected to find support at 106.88, and a fall through could take it to the next support level of 106.41. The pair is expected to find its first resistance at 107.58, and a rise through could take it to the next resistance level of 107.81.
Going forward, investors would pay attention to the BoJ Governor speech, scheduled shortly.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
