USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.07% against the JPY and closed at 76.91, following weak Japanese PMI data.
Japan’s services Purchasing Managers Index (PMI) dropped to 44.3 in August, from 45.3 posted in July.
In the Asian session at 3:00GMT, the dollar is trading lower against yen from yesterday’s close at 23:00 GMT, by 0.14%, at 76.80.
The first short term resistance is at 76.98, followed by 77.16. The pair is expected to find support at 76.63 and the subsequent support level at 76.46.
Bank of Japan monetary policy statement is likely to receive increased market attention today.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
