USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.18% against the JPY and closed at 111.60.
In economic data, Japan’s final leading economic index recorded a rise to 105.5 in March, from a revised level of 104.7 in the previous month. On the other hand, the nation’s coincident index dropped to 114.4 in the same month, compared to a revised reading of 115.2 in the prior month.
In the Asian session, at GMT0300, the pair is trading at 111.60, with the USD trading flat against the JPY from yesterday’s close.
The pair is expected to find support at 111.34, and a fall through could take it to the next support level of 111.09. The pair is expected to find its first resistance at 111.99, and a rise through could take it to the next resistance level of 112.39.
Looking ahead, investors will concentrate on Japan’s annual consumer price index for April, due to release at night.
The currency pair is showing convergence with 50 Hr moving average and trading below its 20 Hr moving average.
