USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.80% against the JPY and closed at 105.83.
In the Asian session, at GMT0300, the pair is trading at 105.91, with the USD trading 0.09% higher against the JPY from yesterday’s close.
Overnight data showed that Japan’s final industrial production declined 3.8% on an annual basis in June, less than market consensus for a drop of 4.1%. In the previous month, industrial production had recorded a fall of 4.1%.
The pair is expected to find support at 105.51, and a fall through could take it to the next support level of 105.10. The pair is expected to find its first resistance at 106.47, and a rise through could take it to the next resistance level of 107.03.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
