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

USDJPY

USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 2.82% against the JPY and closed at 107.04.

In the Asian session, at GMT0300, the pair is trading at 106.91, with the USD trading 0.12% lower against the JPY from yesterday’s close.

The pair is expected to find support at 106.68, and a fall through could take it to the next support level of 106.44. The pair is expected to find its first resistance at 107.21, and a rise through could take it to the next resistance level of 107.50.

Moving ahead, traders would keep a close watch on Japan’s producer price index for April, slated to release overnight.

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

This entry was posted in USD/JPY. Bookmark the permalink.

Comments are closed.