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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.69% against the JPY and closed at 109.17.

In the Asian session, at GMT0400, the pair is trading at 108.63, with the USD trading 0.49% lower against the JPY from yesterday’s close.

The pair is expected to find support at 108.03, and a fall through could take it to the next support level of 107.44. The pair is expected to find its first resistance at 109.74, and a rise through could take it to the next resistance level of 110.86.

Moving ahead, market participants would keep a close watch on Japan’s flash leading economic and coincident indices for December, scheduled to release tomorrow.

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

This entry was posted in USD/JPY. Bookmark the permalink.

Comments are closed.