USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.07% against the JPY and closed at 102.54.
In the Asian session, at GMT0300, the pair is trading at 102.11, with the USD trading 0.42% lower against the JPY from yesterday’s close.
Early this morning, data showed that Japan’s Nikkei services PMI deteriorated to a level of 49.4 in June, from a reading of 50.4 in the previous month, led by the fastest decline in new orders in nearly five years.
The pair is expected to find support at 101.79, and a fall through could take it to the next support level of 101.48. The pair is expected to find its first resistance at 102.61, and a rise through could take it to the next resistance level of 103.12.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
