USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.32% against the JPY and closed at 119.61.
In the Asian session, at GMT0300, the pair is trading at 119.54, with the USD trading 0.06% lower from yesterday’s close.
Earlier today, data showed that the Japan’s all industry activity index unexpectedly advanced 0.1% MoM in February, reversing market expectations for a 0.9% drop and following a 1.9% rise registered in the preceding month.
The pair is expected to find support at 119.28, and a fall through could take it to the next support level of 119.01. The pair is expected to find its first resistance at 119.95, and a rise through could take it to the next resistance level of 120.36.
With no other economic releases in Japan today, investors await the release of Japan’s crucial national CPI data, scheduled next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
