USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.06% against the JPY and closed at 121.36, following an unexpected decline in the US advance retail sales in February.
In the Asian session, at GMT0400, the pair is trading at 121.47, with the USD trading 0.09% higher from yesterday’s close.
Earlier today, data indicated that industrial production in Japan rose 3.7% on a monthly basis in January, following a preliminary rise of 4.0% recorded in December.
The pair is expected to find support at 120.86, and a fall through could take it to the next support level of 120.26. The pair is expected to find its first resistance at 121.86, and a rise through could take it to the next resistance level of 122.26.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
