USD/JPY: Japanese Yen trading a tad higher in the morning session


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD slightly declined against the JPY and closed at 109.29.

In the Asian session, at GMT0400, the pair is trading at 109.24, with the USD trading 0.05% lower against the JPY from yesterday’s close.

The pair is expected to find support at 109.07, and a fall through could take it to the next support level of 108.90. The pair is expected to find its first resistance at 109.47, and a rise through could take it to the next resistance level of 109.70.

Moving forward, investors would await Japan’s retail trade for December and consumer confidence index for January, set to release overnight.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

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