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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.34% against the JPY and closed at 111.59 on Friday.

In the Asian session, at GMT0400, the pair is trading at 111.40, with the USD trading 0.17% lower against the JPY from Friday’s close.

The pair is expected to find support at 111.24, and a fall through could take it to the next support level of 111.07. The pair is expected to find its first resistance at 111.63, and a rise through could take it to the next resistance level of 111.85.

With no major economic releases in Japan today, Yen investors would focus on global macroeconomic events for further direction.

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

This entry was posted in USD/JPY. Bookmark the permalink.

Comments are closed.