USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.35% against the JPY and closed at 106.86.
In the Asian session, at GMT0300, the pair is trading at 106.70, with the USD trading 0.15% lower against the JPY from yesterday’s close.
Overnight data showed that Japan’s producer price index rose 0.6% on a monthly basis in July, more than market expectations for a rise of 0.3% and compared to a similar rise in the earlier month.
The pair is expected to find support at 106.53, and a fall through could take it to the next support level of 106.36. The pair is expected to find its first resistance at 106.94, and a rise through could take it to the next resistance level of 107.18.
Amid a lack of macroeconomic releases in Japan today, investor sentiment would be determined by global macroeconomic factors.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
