USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.19% against the JPY and closed at 99.52.
Yesterday, the Japanese government upgraded its assessment for the nation’s economy, stating that economic recovery has become self-sustaining.
In the Asian session, at GMT0300, the pair is trading at 99.77, with the USD trading 0.26% higher from yesterday’s close. The Yen remained under pressure, as data out from Japan showed that trade deficit in Japan contracted less than expected in June. Additionally, exports and imports also showed less-than-expected growth in June.
The pair is expected to find support at 99.34, and a fall through could take it to the next support level of 98.90. The pair is expected to find its first resistance at 100.20, and a rise through could take it to the next resistance level of 100.63.
Trading trends in the pair today are expected to be determined by corporate service price index in Japan.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
