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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.79% against the JPY and closed at 113.21.

In the Asian session, at GMT0400, the pair is trading at 113.07, with the USD trading 0.12% lower against the JPY from yesterday’s close.

The pair is expected to find support at 112.46, and a fall through could take it to the next support level of 111.86. The pair is expected to find its first resistance at 113.52, and a rise through could take it to the next resistance level of 113.98.

Trading trend in the Japanese Yen today is expected to be determined by Japan’s machine tool orders for November, scheduled 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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