USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.32% against the JPY and closed at 112.00.
In the Asian session, at GMT0300, the pair is trading at 111.83, with the USD trading 0.15% lower against the JPY from yesterday’s close.
Overnight data indicated that Japan’s unemployment rate recorded an unexpected rise to 3.1% in May, hitting its highest level since December 2016, while market participants expected it to remain steady at 2.8%. Moreover, the nation’s national consumer price index (CPI) climbed 0.4% on an annual basis in May, undershooting market expectations for a rise of 0.5%. In the prior month, the CPI had registered a 0.4% rise. Additionally, the nation’s preliminary industrial production eased more-than-anticipated by 3.3% on a monthly basis in May, compared to an advance of 4.0% in the prior month, while markets had anticipated for a decline of 3.0%.
The pair is expected to find support at 111.4, and a fall through could take it to the next support level of 110.96. The pair is expected to find its first resistance at 112.6, and a rise through could take it to the next resistance level of 113.36.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
