USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.37% against the JPY and closed at 106.85.
In the Asian session, at GMT0300, the pair is trading at 106.76, with the USD trading 0.08% lower against the JPY from yesterday’s close.
Overnight data showed that Japan’s Jibun Bank manufacturing PMI unexpectedly climbed to 42.6 in July, defying market forecast for a drop to a level of 39.6 and compared to a reading of 40.1 in the previous month.
The pair is expected to find support at 106.51, and a fall through could take it to the next support level of 106.26. The pair is expected to find its first resistance at 107.19, and a rise through could take it to the next resistance level of 107.62.
Amid a lack of macroeconomic releases in the Japan today, investor sentiment would be determined by global macroeconomic factors.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
