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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.13% against the JPY and closed at 110.84.

In the Asian session, at GMT0300, the pair is trading at 110.88, with the USD trading slightly higher against the JPY from yesterday’s close.

The pair is expected to find support at 110.61, and a fall through could take it to the next support level of 110.33. The pair is expected to find its first resistance at 111.15, and a rise through could take it to the next resistance level of 111.41.

Going ahead, investors would await Japan’s Nikkei services PMI for June, scheduled 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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