USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.07% against the JPY and closed at 122.56.
In the Asian session, at GMT0300, the pair is trading at 122.27, with the USD trading 0.24% lower from yesterday’s close.
Earlier today, data showed that Japan’s labour cash earnings unexpectedly advanced less than expected by 0.6% YoY in May.
The pair is expected to find support at 121.92, and a fall through could take it to the next support level of 121.57. The pair is expected to find its first resistance at 122.9, and a rise through could take it to the next resistance level of 123.52.
Going forward, investors will monitor Japan’s Tankan large manufacturing as well as non-manufacturing outlook for Q2, scheduled overnight for further cues.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
