USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.34% against the JPY and closed at 81.73.
In Japan, today morning, the retail sales, on annual basis, rose by 1.0% in February, following a 0.1% rise in January. The unemployment rate, on a seasonally adjusted basis, fell to 4.6% in February from 4.9% in January. Meanwhile, the job-to-applicant ratio stood at 0.62 in February, following a ratio of 0.61 in January. Additionally, average household spending fell by 0.2% (Y-o-Y) in February to ¥260,793, compared to a 1.0% decline in January.
In the Asian session at 3:00GMT, the pair is trading higher from the New York close, by 0.01%, at 81.74.
The first short term resistance is at 81.90, followed by 82.07. The pair is expected to find support at 81.53 and the subsequent support level at 81.33.
Trading trends in the pair today are expected to be determined by data release on industrial production in Japan.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
