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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.20% against the JPY and closed at 110.01.

In the Asian session, at GMT0400, the pair is trading at 110.06, with the USD trading 0.05% higher against the JPY from yesterday’s close.

The pair is expected to find support at 109.79, and a fall through could take it to the next support level of 109.53. The pair is expected to find its first resistance at 110.28, and a rise through could take it to the next resistance level of 110.51.

In absence of key economic releases in Japan today, investor sentiment would be determined by global macroeconomic events.

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

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