USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 1.08% against the JPY and closed at 108.40.
In economic news, Japan’s consumer confidence index weakened less-than-expected to a level of 40.8 in April, from a reading of 41.7 in the previous month. Investors had expected it to decline to a level of 40.7.
In the Asian session, at GMT0300, the pair is trading at 108.60, with the USD trading 0.18% higher from yesterday’s close.
The pair is expected to find support at 107.61, and a fall through could take it to the next support level of 106.63. The pair is expected to find its first resistance at 109.21, and a rise through could take it to the next resistance level of 109.82.
With no economic release in Japan today, investors will look forward to the nation’s leading economic and coincident indices data for March, scheduled to release tomorrow morning.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
