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


USDJPY Movement

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

In the Asian session, at GMT0400, the pair is trading at 112.24, with the USD trading 0.29% lower against the JPY from yesterday’s close.

The pair is expected to find support at 112.00, and a fall through could take it to the next support level of 111.75. The pair is expected to find its first resistance at 112.68, and a rise through could take it to the next resistance level of 113.11.

Moving ahead, market participants will closely monitor Japan’s flash leading economic and coincident indices, both for October, due to release tomorrow.

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

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