USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.17% against the JPY and closed at 107.42.
In the Asian session, at GMT0300, the pair is trading at 107.66, with the USD trading 0.22% higher against the JPY from yesterday’s close.
Overnight data indicated that Japan’s national consumer price index (CPI) climbed 1.1% in March, meeting market expectations. In the prior month, the CPI had risen 1.5%.
Early morning data showed that the nation’s tertiary industry index came in flat on a monthly basis in February, while investors had envisaged for a gain of 0.1%. In the previous month, the index had registered a fall of 0.6%.
The pair is expected to find support at 107.36, and a fall through could take it to the next support level of 107.07. The pair is expected to find its first resistance at 107.84, and a rise through could take it to the next resistance level of 108.03.
Next week, all eyes would be on the Bank of Japan’s (BoJ) interest rate decision. Moreover, Japan’s flash Nikkei manufacturing PMI, jobless rate, preliminary industrial production, retail trade and large retailers’ sales data, will be on investors’ radar.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
