USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.13% against the JPY and closed at 103.85.
In economic news, Japan’s supermarket sales in July fell 2.1%, on an annual basis, down for the fourth straight month after posting a 2.8% drop in the previous month.
In the Asian session, at GMT0300, the pair is trading at 103.8, with the USD trading tad lower from yesterday’s close.
The pair is expected to find support at 103.61, and a fall through could take it to the next support level of 103.42. The pair is expected to find its first resistance at 103.98, and a rise through could take it to the next resistance level of 104.16.
The currency pair is showing convergence with its 20 Hr moving average and moving above its 50 Hr moving average.
