USDJPY

According to the data released by the Cabinet Office today, Japan's Gross Domestic Product (GDP) contracted by 0.5% in the first quarter (Q1) compared to the -0.5% expectation and the -0.5% previous value. The daily gain for the pair, which closed at 157.13 on the previous trading day, was 0.23%. The RSI indicator for the pair, which is above its 20-day moving average, is at 56.72, while its momentum is at 100.12. Intraday downward movements can be followed at 157.01. If this level is broken, the supports at 156.83, 156.54 and 156.36 may become important. In case of possible increases, the resistance levels at 157.31, 157.49 and 157.78 will be monitored. Support: 157.010 – 156.830 Resistance: 157.310 – 157.490