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Japanese Yen Trading On A Stronger Footing This Morning

Japanese Yen Trading On A Stronger Footing This Morning

USDJPY

USDJPY Movement

For the 24 hours to 23:00 GMT, the USD strengthened 0.25% against the JPY and closed at 123.58, reversing its previous session losses.

In the Asian session, at GMT0300, the pair is trading at 123.36, with the USD trading 0.18% lower from yesterday’s close.

Early morning data showed that the seasonally adjusted retail trade in Japan slid 0.8% MoM in June, following an increase of 1.7% in May, while markets were expecting it to drop 0.9%.

The pair is expected to find support at 123.03, and a fall through could take it to the next support level of 122.71. The pair is expected to find its first resistance at 123.75, and a rise through could take it to the next resistance level of 124.14.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

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