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 0.81% against the JPY and closed at 105.97 on Friday.

In the Asian session, at GMT0300, the pair is trading at 105.56, with the USD trading 0.39% lower against the JPY from Friday’s close.

The pair is expected to find support at 105.21, and a fall through could take it to the next support level of 104.87. The pair is expected to find its first resistance at 106.24, and a rise through could take it to the next resistance level of 106.93.

Amid a lack of macroeconomic releases in Japan today, investor sentiment would be determined by global macroeconomic factors.

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

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