USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.50% against the JPY and closed at 98.18.
In economic news, Japan’s leading economic index rose to a reading of 109.5, more than analysts’ expectations for a rise to 109.0 and from a level of 106.8 registered in the previous month. However, the coincident index in Japan advanced to a level of 108.2, failing to meet market estimate for a rise to 108.3 and compared to the previous month’s reading of 107.6.
In the Asian session, at GMT0400, the pair is trading at 98.14, with the USD trading slightly lower from yesterday’s close.
The pair is expected to find support at 97.36, and a fall through could take it to the next support level of 96.58. The pair is expected to find its first resistance at 99.17, and a rise through could take it to the next resistance level of 100.20.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
