USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.83% against the JPY and closed at 108.7.
In the Asian session, at GMT0300, the pair is trading at 108.75, with the USD trading 0.05% higher against the JPY from yesterday’s close.
The pair is expected to find support at 108.04, and a fall through could take it to the next support level of 107.32. The pair is expected to find its first resistance at 109.17, and a rise through could take it to the next resistance level of 109.58.
Moving ahead, traders would focus on Japan’s final machine tool orders for March, due to release in a while.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
