USDJPY Movement
For the 24 hours to 23:00 GMT, USD traded marginally higher against the JPY and closed at 80.26.
In Japan, yesterday, the all industry activity index, on monthly basis, rose by 1.5% in April following a 6.4% decline in the previous month.
In the Asian session at 3:00GMT, the pair is trading flat from yesterday’s close at 23:00 GMT, at 80.26.
The first short term resistance is at 80.38, followed by 80.49. The pair is expected to find support at 80.10 and the subsequent support level at 79.93.
Trading trends in the pair today are expected to be determined by data release on supermarket sales in Japan.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
