USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.33% against the JPY and closed at 77.00, after Japanese officials introduced a new $100 billion fund intended to curtail the currency’s persistent strength.
In the US, on a seasonally adjusted monthly basis, the home price index climbed 0.9% in June, from a 0.4% rise in May.
In the Asian session at 3:00GMT, the pair is trading lower from yesterday’s close at 23:00 GMT, by 0.09%, at 76.93.
The first short term resistance is at 77.21, followed by 77.48. The pair is expected to find support at 76.54 and the subsequent support level at 76.14.
Trading trends in the pair today are expected to be determined by release of consumer price data in Japan.
The currency pair is trading just above its 20 Hr and its 50 Hr moving averages.
