USD/JPY: Yen trading higher ahead of retail trade data in Japan

USD JPY

USD JPY Movement

For the 24 hours to 23:00 GMT, USD strengthened 0.34% against the JPY and closed at 83.15.On the economic front, the small business confidence in Japan rose to a reading of 48.7 in March, compared to a reading of 45.3 in February.

In the Asian session, at GMT0300, the pair is trading at 82.94, with the USD trading 0.26% lower from yesterday’s close.

The pair is expected to find support at 82.59, and a fall through could take it to the next support level of 82.24. The pair is expected to find its first resistance at 83.33, and a rise through could take it to the next resistance level of 83.73.

Trading trends in the pair today are expected to be determined by retail trade data in Japan.

The currency pair is trading between its 20 Hr and 50 Hr moving averages.

 

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