USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 2.49% against the JPY and closed at 118.46. Yesterday, data revealed that Japan’s final coincident index rose to 112.3 in June from its preliminary figure of 112.0, while the final leading economic index fell to 106.5 in June from its preliminary figure of 107.2.
In the Asian session, at GMT0300, the pair is trading at 119.89, with the USD trading 1.21% higher from yesterday’s close.
The pair is expected to find support at 116.94, and a fall through could take it to the next support level of 113.99. The pair is expected to find its first resistance at 122.07, and a rise through could take it to the next resistance level of 124.24.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
