USD/JPY: Japanese Yen trading higher in the Asian session


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD marginally rose against the JPY and closed at 114.93.

In the Asian session, at GMT0400, the pair is trading at 114.80, with the USD trading 0.11% lower against the JPY from yesterday’s close.

The pair is expected to find support at 114.52, and a fall through could take it to the next support level of 114.23. The pair is expected to find its first resistance at 115.03, and a rise through could take it to the next resistance level of 115.25.

Going ahead, Japan’s industrial production data for January, set to release tomorrow, will be on investor’s radar.

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

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