USDJPY Movement
For the 24 hours to 23:00 GMT, USD traded flat against the JPY and closed at 78.06.
In the US, the initial jobless claims, for the week ended October 29th, stood at 397,000, compared to the previous week’s revised level of 406,000. Continuing jobless claims declined to 3,683,000 for the week ended October 22 from 3,698,000 in the previous week.
In the Asian session, at GMT0400, the pair is trading at 78.00, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 77.90, and a fall through could take it to the next support level of 77.79. The pair is expected to find its first resistance at 78.11, and a rise through could take it to the next resistance level of 78.21.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
