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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.66% against the JPY and closed at 110.68 on Friday.

In the Asian session, at GMT0300, the pair is trading at 110.72, with the USD trading a tad higher against the JPY from Friday’s close.

The pair is expected to find support at 110.14, and a fall through could take it to the next support level of 109.55. The pair is expected to find its first resistance at 111.18, and a rise through could take it to the next resistance level of 111.63.

Going ahead, investors will closely monitor Japan’s trade balance figures for June, slated to release overnight, followed by the Eco-Watchers survey data for July.

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

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