USD/JPY: Japanese Yen reverses its losses in the Asian session


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.06% against the JPY and closed at 114.01.

In the Asian session, at GMT0300, the pair is trading at 113.93, with the USD trading 0.07% lower against the JPY from yesterday’s close.

The pair is expected to find support at 113.81, and a fall through could take it to the next support level of 113.70. The pair is expected to find its first resistance at 114.05, and a rise through could take it to the next resistance level of 114.18.

Going forward, traders would closely monitor Japan’s consumer confidence index for September, set to release in a while.

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

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