USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.22% against the JPY and closed at 110.00.
In economic news, data showed that Eco-Watchers Survey for the current situation rose to a level of 48.6 in May, compared to a reading of 48.1 in the prior month. Markets were anticipating it to advance to a level of 48.6. Further, the nation’s Eco-Watchers Survey for the future outlook unexpectedly climbed to a level of 49.6 in May, compared to a level of 48.8 in the prior month, while markets anticipated it to ease to a level of 48.5.
In the Asian session, at GMT0300, the pair is trading at 110.26, with the USD trading 0.24% higher against the JPY from yesterday’s close.
Earlier today, data revealed that the nation’s tertiary industry index rebounded more-than-expected by 1.2% MoM in April, following a drop of 0.2% in the preceding month.
The pair is expected to find support at 109.63, and a fall through could take it to the next support level of 109.01. The pair is expected to find its first resistance at 110.63, and a rise through could take it to the next resistance level of 111.01.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
