USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.46% against the JPY and closed at 110.09.
In the Asian session, at GMT0300, the pair is trading at 109.84, with the USD trading 0.23% lower against the JPY from yesterday’s close, after overnight data showed that Japan’s adjusted merchandise trade surplus widened more-than-anticipated to a level of ¥337.4 billion in July, as exports continued to increase, while market participants had anticipated for a surplus of ¥195.3 billion. In the preceding month, the nation had posted a revised surplus of ¥87.3 billion.
The pair is expected to find support at 109.36, and a fall through could take it to the next support level of 108.87. The pair is expected to find its first resistance at 110.64, and a rise through could take it to the next resistance level of 111.43.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
