USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.09% against the JPY and closed at 78.08.
In Japan, yesterday, the Leading Index declined to 91.6 in September, compared to 93.8 in the previous month. The Coincident Index declined to 88.9 in September from 90.3 in August.
In the Asian session, at GMT0400, the pair is trading at 78.03, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 77.95, and a fall through could take it to the next support level of 77.88. The pair is expected to find its first resistance at 78.14, and a rise through could take it to the next resistance level of 78.26.
The pair is expected to trade on the cues from the release of current account and trade balance data in Japan.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
