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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.39% against the JPY and closed at 110.60 on Friday.

In the Asian session, at GMT0400, the pair is trading at 110.79, with the USD trading 0.17% higher against the JPY from Friday’s close.

The pair is expected to find support at 110.51, and a fall through could take it to the next support level of 110.23. The pair is expected to find its first resistance at 111.05, and a rise through could take it to the next resistance level of 111.31.

Going forward, investors would be paying close attention to the Bank of Japan’s (BoJ) interest rate decision, due in the early hours of tomorrow.

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

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