USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.16% against the JPY and closed at 76.68.
This morning, Japan’s current account surplus dropped to ¥407.5 billion in August, from a current account surplus of ¥990.2 billion in July. Also, the trade deficit stood at ¥694.7 billion in August, from a trade surplus of ¥123.3 billion in July.
In the Asian session, at GMT0300, the pair is trading at 76.65, with the USD trading flat from the New York close.
The pair is expected to find support at 76.56, and a fall through could take it to the next support level of 76.46. The pair is expected to find its first resistance at 76.76, and a rise through could take it to the next resistance level of 76.86.
Trading trends in the pair today are expected to be determined by data release on consumer confidence in Japan.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
