Japanese Yen Trading On A Weaker Footing This Morning
GCI Financial | Apr 17, 2015 03:13AM ET
For the 24 hours to 23:00 GMT, the USD weakened 0.13% against the JPY and closed at 119.01.
Yesterday, data showed that Tokyo condominium sales fell 4.00% in Japan on an annual basis, in March. In the previous month, sales had dropped 2.00%.
In the Asian session, at GMT0300, the pair is trading at 119.03, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 118.74, and a fall through could take it to the next support level of 118.44. The pair is expected to find its first resistance at 119.40, and a rise through could take it to the next resistance level of 119.77.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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