USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.35% against the JPY and closed at 108.60.
In the Asian session, at GMT0400, the pair is trading at 108.81, with the USD trading 0.19% higher against the JPY from yesterday’s close.
The pair is expected to find support at 108.41, and a fall through could take it to the next support level of 108.01. The pair is expected to find its first resistance at 109.02, and a rise through could take it to the next resistance level of 109.23.
Moving ahead, traders would closely monitor the Bank of Japan’s monetary policy meeting minutes followed by Japan’s services PMI for October, scheduled to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
