USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.27% against the JPY and closed at 79.29.
The Yen rose, after consumer confidence index in Japan rose to the highest level in 15 months in May. Meanwhile, machine tool orders in Japan decreased 2.9% (YoY) in May.
In the Asian session, at GMT0300, the pair is trading at 79.35, with the USD trading 0.08% higher from yesterday’s close.
This morning, in Japan, on a seasonally adjusted basis tertiary industry activity fell a seasonally adjusted 0.3% (MoM) against the market expectation of a 0.4% rise.
The pair is expected to find support at 79.12, and a fall through could take it to the next support level of 78.89. The pair is expected to find its first resistance at 79.63, and a rise through could take it to the next resistance level of 79.91.
Trading trends in the pair today are expected to be determined by the release of machinery orders data in Japan.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
