USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.11% against the JPY, on Friday, and closed at 79.05.
In the US, the New York Federal Reserve reported that its general business conditions index rose to a reading of -3.8 in July, following a reading of -7.8 posted in June.
In the Asian session at 3:00GMT, the pair is trading flat from Friday’s close at 23:00 GMT, at 79.04.
The first short term resistance is at 79.23, followed by 79.41. The pair is expected to find support at 78.91 and the subsequent support level at 78.77.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
