USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened marginally against the JPY and closed at 76.52.
In Japan, yesterday, the All Industry Activity Index rose 0.4% (M-o-M) in July compared to a 2.3% rise in the previous month.
US President, Barack Obama held his first talks with Japan’s new Prime Minister, Yoshihiko Noda on Wednesday, and both leaders pledged to boost fragile global economic growth.
In the Asian session at 3:00GMT, the dollar is trading higher against the yen from yesterday’s close at 23:00 GMT, by 0.37%, at 76.81.
The first short term resistance is at 77.10, followed by 77.39. The pair is expected to find support at 76.38 and the subsequent support level at 75.95.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
