USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.46% against the JPY and closed at 77.30.
In the US, for the week ended 19 November 2011, initial jobless claims advanced to 393,000, compared to the previous week’s revised figure of 391,000. Meanwhile, for the week ended 12 November 2011, continuing claims edged up to 3.691 million, from the preceding week’s revised level of 3.623 million.
In the Asian session, at GMT0400, the pair is trading at 77.07, with the USD trading 0.31% lower from yesterday’s close.
The pair is expected to find support at 76.82, and a fall through could take it to the next support level of 76.57. The pair is expected to find its first resistance at 77.45, and a rise through could take it to the next resistance level of 77.83.
The pair is expected to trade on the cues from the release of National Consumer Price Index and corporate service price data in Japan.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
