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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.14% against the JPY and closed at 105.61.

In the Asian session, at GMT0300, the pair is trading at 105.52, with the USD trading 0.09% lower against the JPY from yesterday’s close.

The pair is expected to find support at 105.27, and a fall through could take it to the next support level of 105.02. The pair is expected to find its first resistance at 105.82, and a rise through could take it to the next resistance level of 106.12.

Looking ahead, traders would keep an eye on Japan’s overall household spending for June, slated to release overnight.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

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