USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.92% against the JPY and closed at 107.14.
In the Asian session, at GMT0300, the pair is trading at 107.16, with the USD trading marginally higher against the JPY from yesterday’s close.
Early this morning, data indicated that Japan’s All industry activity index fell less-than-expected by 1.0% MoM in May, compared to market expectations of a fall of 1.1% and after recording a revised rise of 0.8% in the preceding month.
The pair is expected to find support at 106.20, and a fall through could take it to the next support level of 105.25. The pair is expected to find its first resistance at 107.79, and a rise through could take it to the next resistance level of 108.43.
Market participants would now focus on Japan’s final machine tool orders data for June, slated to release shortly.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
