USDJPY Movement
On Friday, the USD traded tad higher against the JPY and closed at 102.12.
On the macro level, Eco watchers survey for the current situation in Japan climbed to 51.3 in July, its future outlook in Japan declined to 51.5.
Over the weekend, Japan tertiary industry index unexpectedly declined 0.1% in June, on monthly basis, reversing the 0.9% rise a month ago.
In the Asian session, at GMT0300, the pair is trading at 102.16, with the USD trading a tad higher from Friday’s close.
The pair is expected to find support at 101.71, and a fall through could take it to the next support level of 101.25. The pair is expected to find its first resistance at 102.41, and a rise through could take it to the next resistance level of 102.66.
Trading trends in the Yen today are expected to be determined by BoJ’s economic survey as well as the data for consumer confidence and machine tool orders, ahead in the day.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
