USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.11% against the JPY and closed at 79.87.
In the Asian session, at GMT0300, the pair is trading at 79.87, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 79.64, and a fall through could take it to the next support level of 79.41. The pair is expected to find its first resistance at 80.14, and a rise through could take it to the next resistance level of 80.41.
Trading trends in the pair today are expected to be determined by the release of consumer confidence index, machinery orders and tertiary industry index in Japan.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
