USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.12% against the JPY and closed at 100.08.
In the Asian session, at GMT0300, the pair is trading at 100.22, with the USD trading 0.14% higher against the JPY from yesterday’s close.
Early morning data indicated that Japan’s all industry activity index climbed 1.0% MoM in June, beating market consensus for an advance of 0.9% and following a revised drop of 1.3% in the prior month.
The pair is expected to find support at 99.78, and a fall through could take it to the next support level of 99.34. The pair is expected to find its first resistance at 100.57, and a rise through could take it to the next resistance level of 100.92.
Looking ahead, market participants would closely monitor the release of Japan’s flash Nikkei manufacturing PMI, annual consumer price index data as well as BoJ Governor, Haruhiko Kuroda’s speech, all scheduled next week.
The currency pair is trading above its 20 Hr and showing convergence with its 50 Hr moving average.
