USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 1.98% against the JPY and closed at 104.68.
In the Asian session, at GMT0300, the pair is trading at 104.18, with the USD trading 0.48% lower against the USD from yesterday’s close.
Earlier today, data indicated that Japan’s final industrial production fell by 2.6% MoM in May, compared to a fall of 2.3% in the preceding month.
The pair is expected to find support at 103.00, and a fall through could take it to the next support level of 101.83. The pair is expected to find its first resistance at 105.16, and a rise through could take it to the next resistance level of 106.15.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
