USD/JPY: Japanese Yen extends its gains in the Asian session


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 2.06% against the JPY and closed at 107.88 on Friday.

In the Asian session, at GMT0300, the pair is trading at 107.32, with the USD trading 0.52% lower against the JPY from Friday’s close.

The pair is expected to find support at 106.60, and a fall through could take it to the next support level of 105.89. The pair is expected to find its first resistance at 108.55, and a rise through could take it to the next resistance level of 109.79.

Looking ahead, market participants would keep a watch on Japan’s unemployment rate, retail trade and industrial production, all for February, slated to release later today.

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

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