USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.82% against the JPY and closed at 97.95, as some positive economic data out of the US supported the greenback. Yesterday, in the US, official data revealed that the number of Americans filing for unemployment assistance for the first time fell last week. Moreover, US trade deficit narrowed more-than-expected in March.
In the Asian session, at GMT0300, the pair is trading at 97.98, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 97.26, and a fall through could take it to the next support level of 96.54. The pair is expected to find its first resistance at 98.56, and a rise through could take it to the next resistance level of 99.13.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
