USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.40% against the JPY and closed at 80.00.
Data released this morning showed that the Corporate Service Price Index (CSPI) in Japan declined 0.2% (YoY) in January, compared to a 0.1% rise recorded in December.
In the Asian session, at GMT0400, the pair is trading at 80.29, with the USD trading 0.36% higher from yesterday’s close.
The pair is expected to find support at 79.99, and a fall through could take it to the next support level of 79.69. The pair is expected to find its first resistance at 80.46, and a rise through could take it to the next resistance level of 80.62.
With no major release from Japan, the pair is expected to trade on trends in the greenback.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
