USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.08% against the JPY and closed at 110.72 on Friday.
In the Asian session, at GMT0300, the pair is trading at 111.09, with the USD trading 0.33% higher against the JPY from Friday’s close.
Data released overnight showed that Japan’s adjusted merchandise trade surplus unexpectedly widened to ¥550.0 billion in April, defying market consensus for it to narrow to ¥114.9 billion. In the preceding month, the nation had recorded an adjusted merchandise trade surplus of ¥170.0 billion.
The pair is expected to find support at 110.76, and a fall through could take it to the next support level of 110.43. The pair is expected to find its first resistance at 111.27, and a rise through could take it to the next resistance level of 111.45.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
