USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.26% against the JPY and closed at 101.68.
In the Asian session, at GMT0300, the pair is trading at 101.62, with the USD trading marginally lower from yesterday’s close.
In economic news, an index measuring the prices of domestic corporate goods in Japan rose 0.3% (MoM) in April, compared to a 0.1% rise recorded in the previous month.
The pair is expected to find support at 101.30, and a fall through could take it to the next support level of 100.99. The pair is expected to find its first resistance at 102.00, and a rise through could take it to the next resistance level of 102.38.
Ahead in the day, traders would keep an eye on machine tool orders and tertiary industry index data from Japan.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
