USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.12% against the JPY and closed at 76.22.
In Japan, this morning, the retail sales declined 1.5% (M-o-M) to ¥10.57 trillion in September, following a 1.7% decline in the previous month.
In the Asian session, at GMT0300, the pair is trading at 76.05, with the USD trading 0.22% lower from yesterday’s close.
The pair is expected to find support at 75.74, and a fall through could take it to the next support level of 75.43. The pair is expected to find its first resistance at 76.34, and a rise through could take it to the next resistance level of 76.63.
Investors are eying Bank of Japan interest rate decision along with other economic releases in Japan to be released later today.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
