USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.17% against the JPY and closed at 97.85.
In Japan, housing starts grew 15.3% (YoY) in June, faster than the 14.5% rise in May. Meanwhile, the construction orders rose 21.9% annually in June, compared to a 26.0% rise in May.
In the Asian session, at GMT0300, the pair is trading at 98.33, with the USD trading 0.50% higher from yesterday’s close.
The pair is expected to find support at 97.76, and a fall through could take it to the next support level of 97.18. The pair is expected to find its first resistance at 98.74, and a rise through could take it to the next resistance level of 99.14.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
