USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.27% against the JPY and closed at 108.75.
In the Asian session, at GMT0300, the pair is trading at 108.84, with the USD trading 0.08% higher against the JPY from yesterday’s close.
The pair is expected to find support at 108.45, and a fall through could take it to the next support level of 108.05. The pair is expected to find its first resistance at 109.07, and a rise through could take it to the next resistance level of 109.29.
Going ahead, traders would keep an eye on Japan’s machine tool orders for June, scheduled to release in a while.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
