USD/JPY: Japanese Yen trading a tad lower in the Asian session


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.08% against the JPY and closed at 112.57 on Friday.

In the Asian session, at GMT0300, the pair is trading at 112.59, with the USD trading slightly higher against the JPY from Friday’s close.

The pair is expected to find support at 112.43, and a fall through could take it to the next support level of 112.27. The pair is expected to find its first resistance at 112.81, and a rise through could take it to the next resistance level of 113.03.

Looking forward, traders would closely monitor the Bank of Japan’s (BoJ) September monetary policy meeting minutes, set to release overnight.

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

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