USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.47% against the JPY and closed at 80.84.
In Japan, this morning, the retail sales, on annual basis, declined by 1.3% in May following a 4.8% decline in the previous month.
In the Asian session at 3:00GMT, the pair is trading lower from yesterday’s close at 23:00 GMT, by 0.06%, at 80.79.
The first short term resistance is at 80.97, followed by 81.15. The pair is expected to find support at 80.62 and the subsequent support level at 80.45.
The pair is expected to trade on the cues from the release industrial production data in Japan.
The currency pair is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.
