USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.17% against the JPY and closed at 110.15.
In the Asian session, at GMT0300, the pair is trading at 109.61, with the USD trading 0.49% lower from yesterday’s close.
Overnight data showed that, Japan’s corporate service price index advanced in line with market expectations by 0.2% YoY in April, following a similar rise in the previous month.
The pair is expected to find support at 109.18, and a fall through could take it to the next support level of 108.74. The pair is expected to find its first resistance at 110.25, and a rise through could take it to the next resistance level of 110.88.
Moving ahead, investors will look forward to Japan’s national consumer price index data for April, scheduled to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
