USD/JPY: Japanese Yen trading marginally higher in the Asian session


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.09% against the JPY and closed at 114.05.

In the Asian session, at GMT0400, the pair is trading at 114.02, with the USD trading marginally lower from yesterday’s close.

The pair is expected to find support at 113.63, and a fall through could take it to the next support level of 113.25. The pair is expected to find its first resistance at 114.31, and a rise through could take it to the next resistance level of 114.61.

Going forward, investors would focus on the minutes from the Bank of Japan’s (BoJ) September meeting, a speech by the BoJ Governor Kuroda, Japan’s Nikkei services PMI data and trade balance figures, all due next week.

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

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