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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.45% against the JPY and closed at 112.64.

In the Asian session, at GMT0400, the pair is trading at 112.26, with the USD trading 0.34% lower against the JPY from yesterday’s close.

The pair is expected to find support at 111.96, and a fall through could take it to the next support level of 111.67. The pair is expected to find its first resistance at 112.76, and a rise through could take it to the next resistance level of 113.27.

Going ahead, market participants would focus on Japan’s flash leading economic as well as coincident indices, both for November, slated to release in the early hours of tomorrow.

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

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