USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.47% against the JPY and closed at 78.24.
In Japan, the leading index fell to a reading of 92.6 in June, from a reading of 95.2 in May, while, the coincident index dropped to 93.8 in June, from a reading of 95.8 in May.
In the Asian session, at GMT0300, the pair is trading at 78.27, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 78.12, and a fall through could take it to the next support level of 77.97. The pair is expected to find its first resistance at 78.45, and a rise through could take it to the next resistance level of 78.63.
Trading trends in the pair today are expected to be determined by the release of trade balance and current account balance data in Japan.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
