USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.56% against the JPY and closed at 107.07.
On the data front, Japan’s leading index climbed to 77.7 in April, compared to a level of 84.7 in the prior month. The preliminary figures had indicated a drop to 76.2. On the other hand, the coincident index fell to 80.1 in April, compared to a reading of 90.2 in the previous month. The preliminary figures had indicated a drop to 81.5.
In the Asian session, at GMT0300, the pair is trading at 107.18, with the USD trading 0.10% higher against the JPY from yesterday’s close.
The pair is expected to find support at 106.65, and a fall through could take it to the next support level of 106.13. The pair is expected to find its first resistance at 107.48, and a rise through could take it to the next resistance level of 107.79.
Amid no macroeconomic releases in Japan today, investor sentiment would be governed by global macroeconomic factors.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
