USDJPY Movement

For the 24 hours to 23:00 GMT, USD strengthened 0.53% against the JPY and closed at 79.47.

In Japan, the all industry activity index climbed 0.1% (MoM) in April, compared to a 0.3% decline in previous month. Separately, convenience store sales fell rose 1.7% (YoY) in May, compared to a 6.1% rise in April.

In the Asian session, at GMT0300, the pair is trading at 79.58, with the USD trading 0.14% higher from yesterday’s close.

The pair is expected to find support at 79.02, and a fall through could take it to the next support level of 78.45. The pair is expected to find its first resistance at 79.92, and a rise through could take it to the next resistance level of 80.27.

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