USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 1.25% against the JPY and closed at 80.51.
In the Asian session, at GMT0400, the pair is trading at 80.20, with the USD trading 0.38% lower from yesterday’s close.
Yen is trading higher this morning after the retail sales in Japan rose 1.9% (YoY) to ¥11.341 trillion in January, following a 2.5% rise in December.
The pair is expected to find support at 79.73, and a fall through could take it to the next support level of 79.25. The pair is expected to find its first resistance at 80.96, and a rise through could take it to the next resistance level of 81.73.
Trading trends in the pair today are expected to be determined by the release of industrial production and Nomura/JMMA manufacturing Purchasing Manager Index in Japan.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
