USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.23% against the JPY and closed at 106.78.
In the Asian session, at GMT0300, the pair is trading at 106.99, with the USD trading 0.20% higher against the JPY from yesterday’s close, after the US expressed willingness to negotiate a resolution to an intensifying trade conflict with China, thus soothing fears over a trade war.
The pair is expected to find support at 106.32, and a fall through could take it to the next support level of 105.66. The pair is expected to find its first resistance at 107.32, and a rise through could take it to the next resistance level of 107.66.
Going ahead, traders would keep a close watch on Japan’s flash leading economic and coincident indices for February, slated to release tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
