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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD slightly declined against the JPY and closed at 113.13.

In the Asian session, at GMT0300, the pair is trading at 113.70, with the USD trading 0.5% higher against the JPY from yesterday’s close.

The pair is expected to find support at 113.11, and a fall through could take it to the next support level of 112.53. The pair is expected to find its first resistance at 114.06, and a rise through could take it to the next resistance level of 114.43.

Next week, investors will keep a close watch on Japan’s (BOP basis) trade balance, Eco-Watchers survey, tertiary industry index and final industrial production data.

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

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