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

USDJPY

USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.73% against the JPY and closed at 106.20.

In the Asian session, at GMT0400, the pair is trading at 106.35, with the USD trading 0.14% higher against the JPY from yesterday’s close.

The pair is expected to find support at 105.65, and a fall through could take it to the next support level of 104.94. The pair is expected to find its first resistance at 106.76, and a rise through could take it to the next resistance level of 107.16.

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

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

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