USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.29% against the JPY and closed at 79.01.
In the Asian session, at GMT0300, the pair is trading at 79.14, with the USD trading 0.16% higher from yesterday’s close.
The pair is expected to find support at 78.49, and a fall through could take it to the next support level of 78.18. The pair is expected to find its first resistance at 79.02, and a rise through could take it to the next resistance level of 79.24.
In absence of significant economic indicators in Japan today, the pair is expected to take direction from the outcome of the US jobless claims and housing data in the day ahead.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
