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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.28% against the JPY and closed at 113.29 on Friday.

In the Asian session, at GMT0400, the pair is trading at 113.48, with the USD trading 0.17% higher against the JPY from Friday’s close.

The pair is expected to find support at 113.24, and a fall through could take it to the next support level of 113.01. The pair is expected to find its first resistance at 113.69, and a rise through could take it to the next resistance level of 113.91.

Amid lack of economic releases in Japan today, traders would focus on global macroeconomic events for further direction.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

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