Japanese Yen Extends Its Losses In The Asian Session
GCI Financial | Sep 12, 2014 05:12AM ET
For the 24 hours to 23:00 GMT, the USD strengthened 0.21% against the JPY and closed at 107.05.
In the Asian session, at GMT0300, the pair is trading at 107.34, with the USD trading 0.26% higher from yesterday’s close.
Data released this morning indicated that, Japanese capacity utilization fell 0.8%, on a monthly basis in July, compared to a drop of 3.3% in the prior month, while the industrial production rose 0.4%, from a 3.4% fall registered in the same period.
The pair is expected to find support at 106.88, and a fall through could take it to the next support level of 106.41. The pair is expected to find its first resistance at 107.58, and a rise through could take it to the next resistance level of 107.81.
Going forward, investors would pay attention to the BoJ Governor speech, scheduled shortly.
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