USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.31% against the JPY and closed at 110.38.
In the Asian session, at GMT0300, the pair is trading at 110.59, with the USD trading 0.19% higher against the JPY from yesterday’s close.
Separately, Bank of Japan’s (BoJ) Governor, Haruhiko Kuroda, proposed a Japanese government call for employers to raise wages by 3% a year, as it would help in achieving the bank’s inflation target.
The pair is expected to find support at 110.15, and a fall through could take it to the next support level of 109.70. The pair is expected to find its first resistance at 110.84, and a rise through could take it to the next resistance level of 111.08.
Moving forward, traders would closely monitor Japan’s national consumer price index for May and Nikkei flash PMI manufacturing for June, set to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
