USD/JPY: Japanese yen extends it losses in the Asian session


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.25% against the JPY and closed at 110.45.

On the macro front, Japan’s tertiary industry index registered a rise of 1.0% on a monthly basis in April, more than market expectations for an advance of 0.6%. In the prior month, the tertiary industry index had dropped 0.3%.

In the Asian session, at GMT0300, the pair is trading at 110.62, with the USD trading 0.15% higher against the JPY from yesterday’s close.

The pair is expected to find support at 110.27, and a fall through could take it to the next support level of 109.93. The pair is expected to find its first resistance at 110.79, and a rise through could take it to the next resistance level of 110.97.

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

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