USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.48% against the JPY and closed at 80.63, following release of weaker-than-expected employment data in the US and an unexpected fall in the US non-manufacturing PMI.
In the US, Automatic Data Processing, Inc’s (ADP) non-farm private employment increased less-than-expected by 179,000 jobs in April, while the Institute for Supply Management’s non-manufacturing index dropped more-than-expected to 52.8 in April.
In the Asian session at 3:00GMT, the pair is trading lower from the New York close, by 0.22%, at 80.45.
The first short term resistance is at 80.97, followed by 81.48. The pair is expected to find support at 80.17 and the subsequent support level at 79.88.
Trading trends in the pair today are expected to be determined by data release on monetary base in Japan.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
