USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.31% against the JPY and closed at 81.09.
In Japan, this morning, the industrial production, on monthly basis, rose by 5.7% in May from 1.6% increase in the previous month.
In the Asian session at 3:00GMT, the pair is trading lower from yesterday’s close at 23:00 GMT, by 0.10%, at 81.01.
The first short term resistance is at 81.30, followed by 81.59. The pair is expected to find support at 80.69 and the subsequent support level at 80.37.
Trading trends in the pair today are expected to be determined by release of manufacturing purchasing manager index in Japan.
The currency pair is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.
