USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.63% against the JPY and closed at 109.57.
In the Asian session, at GMT0300, the pair is trading at 109.64, with the USD trading 0.06% higher against the JPY from yesterday’s close.
Overnight data showed that Japan’s national consumer price index (CPI) climbed 0.4% YoY in July, meeting market expectations. The CPI had registered a similar rise in the prior month.
The pair is expected to find support at 109.22, and a fall through could take it to the next support level of 108.79. The pair is expected to find its first resistance at 109.92, and a rise through could take it to the next resistance level of 110.19.
Moving ahead, Japan’s jobless rate, industrial production, retail trade, small business confidence and consumer confidence data, all slated to release next week, will pique significant amount of investor attention.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
