USD/JPY: Japanese Yen trading on a stronger footing this morning


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.32% against the JPY and closed at 112.88.

In the Asian session, at GMT0400, the pair is trading at 112.77, with the USD trading 0.1% lower against the JPY from yesterday’s close.

The pair is expected to find support at 112.56, and a fall through could take it to the next support level of 112.36. The pair is expected to find its first resistance at 113.08, and a rise through could take it to the next resistance level of 113.40.

Looking forward, Japan’s Nikkei manufacturing as well as services PMIs data, due to release next week, will attract significant amount of investor attention.

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

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