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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.74% against the JPY and closed at 112.54 on Friday.

In the Asian session, at GMT0300, the pair is trading at 112.62, with the USD trading 0.07% higher against the JPY from Friday’s close.

The pair is expected to find support at 112.10, and a fall through could take it to the next support level of 111.59. The pair is expected to find its first resistance at 113.30, and a rise through could take it to the next resistance level of 113.99.

On account of a holiday in Japan today, investor sentiment will be governed by global macroeconomic news.

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

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