USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.75% against the JPY, on Friday, and closed at 80.63.
In Japan economic news on Friday, the current conditions index rose to 49.6 in June from 36.0 in May. The outlook index rose to 49.0 in June from 44.9 in the previous month. On an annual basis, the number of corporate bankruptcies in Japan fell 3.9% to 6,523 in the six months ended in June.
Additionally, today morning, the money supply in Japan rose to 2.9% (Y-o-Y) in June from 2.7% in May.
In the Asian session at 3:00GMT, the pair is trading higher from Friday’s close at 23:00 GMT, by 0.16%, at 80.76.
The first short term resistance is at 81.33, followed by 81.89. The pair is expected to find support at 80.35 and the subsequent support level at 79.93.
The pair is expected to trade on the cues from the release of tertiary industry index and domestic corporate goods price index in Japan.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
