USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.59% against the JPY and closed at 109.49 on Friday.
In the Asian session, at GMT0400, the pair is trading at 109.61, with the USD trading 0.11% higher against the JPY from Friday’s close.
The pair is expected to find support at 109.09, and a fall through could take it to the next support level of 108.56. The pair is expected to find its first resistance at 109.89, and a rise through could take it to the next resistance level of 110.16.
Moving forward, investors would closely watch Japan’s Nikkei services PMI for January, slated to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
