USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.43% against the JPY, on Friday, and closed at 77.23.
In the US, the retail sales rose 1.1% M-o-M to $395.5 billion in September, compared to 0.3% growth in August.
Yen declined after the Japanese government officials stated that they would take fresh steps against a strong yen.
In the Asian session, at GMT0300, the pair is trading at 77.24, with the USD trading flat from Friday’s close.
The pair is expected to find support at 76.92, and a fall through could take it to the next support level of 76.61. The pair is expected to find its first resistance at 77.50, and a rise through could take it to the next resistance level of 77.77.
Trading trends in the pair today are expected to be determined by data release on industrial production and capacity utilization in Japan.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
