USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.06% against the JPY and closed at 80.11.
In the US, the Automatic Data Processing, Inc. (ADP) reported that private sector employment increased by 119,000 jobs in April, following a downwardly revised increase of 201,000 jobs recorded in March. Meanwhile, the factory orders in the US fell 1.5% (MoM) in March, compared to 1.1% rise in previous month.
In the Asian session, at GMT0300, the pair is trading at 80.17, with the USD trading 0.07% higher from yesterday’s close.
The pair is expected to find support at 79.95, and a fall through could take it to the next support level of 79.72. The pair is expected to find its first resistance at 80.50, and a rise through could take it to the next resistance level of 80.84.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
