USDJPY Movement
For the 24 hours to 23:00 GMT, the USD marginally declined against the JPY and closed at 109.09.
In the Asian session, at GMT0300, the pair is trading at 109.49, with the USD trading 0.37% higher against the JPY from yesterday’s close.
The pair is expected to find support at 109.00, and a fall through could take it to the next support level of 108.51. The pair is expected to find its first resistance at 109.81, and a rise through could take it to the next resistance level of 110.13.
Looking ahead, traders would closely monitor the Bank of Japan’s (BoJ) summary of opinions report as well as Japan’s (BOP basis) trade balance for March, both due to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
