Japanese Yen Trading Higher In The Asian Session
GCI Financial | Jul 22, 2015 04:53AM ET
For the 24 hours to 23:00 GMT, the USD weakened 0.35% against the JPY and closed at 123.84.
In the Asian session, at GMT0300, the pair is trading at 123.68, with the USD trading 0.13% lower from yesterday’s close.
In economic news, Japan’s all industry activity index dropped 0.50% MoM in May, less than market expectations for a fall of 0.60%. The index had climbed 0.10% in the prior month.
The pair is expected to find support at 123.37, and a fall through could take it to the next support level of 123.05. The pair is expected to find its first resistance at 124.24, and a rise through could take it to the next resistance level of 124.80.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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