USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.25% against the JPY and closed at 94.57, after the New York manufacturing index jumped to a reading of 7.84 in June, against the expected reading of zero and compared to a reading of -1.43 in May.
In the Asian session, at GMT0300, the pair is trading at 94.87, with the USD trading 0.31% higher from yesterday’s close.
The pair is expected to find support at 94.34, and a fall through could take it to the next support level of 93.82. The pair is expected to find its first resistance at 95.33, and a rise through could take it to the next resistance level of 95.79.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
