USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.32% against the JPY and closed at 107.12.
In the Asian session, at GMT0300, the pair is trading at 107.23, with the USD trading 0.10% higher against the JPY from yesterday’s close.
The pair is expected to find support at 106.88, and a fall through could take it to the next support level of 106.52. The pair is expected to find its first resistance at 107.54, and a rise through could take it to the next resistance level of 107.84.
Going ahead, traders would closely monitor Japan’s (BOP basis) trade balance, consumer confidence index, flash machine tool orders and machinery orders data, all slated to release next week.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
