USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.46% against the JPY and closed at 107.31.
On the data front, Japan’s tertiary industry index dropped 2.1% on a monthly basis in May, compared to a fall of 6.0% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 107.17, with the USD trading 0.13% lower against the JPY from yesterday’s close.
The pair is expected to find support at 106.85, and a fall through could take it to the next support level of 106.53. The pair is expected to find its first resistance at 107.43, and a rise through could take it to the next resistance level of 107.69.
Moving forward, traders would keep a watch on Japan’s industrial production for May, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
