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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.32% against the JPY and closed at 113.14 on Friday.

In the Asian session, at GMT0400, the pair is trading at 113.18, with the USD trading a tad higher against the JPY from Friday’s close.

The pair is expected to find support at 112.89, and a fall through could take it to the next support level of 112.60. The pair is expected to find its first resistance at 113.39, and a rise through could take it to the next resistance level of 113.60.

On account of a national holiday in Japan today, Yen investors would focus on global macroeconomic events for further direction.

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

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