USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.19% against the JPY and closed at 110.06.
In the Asian session, at GMT0300, the pair is trading at 110.04, with the USD trading a tad lower against the JPY from yesterday’s close.
Earlier in the session, Japan’s final industrial production rebounded 4.0% on a monthly basis in April, confirming the flash estimate. Industrial production had fallen 1.9% in the previous month.
The pair is expected to find support at 109.88, and a fall through could take it to the next support level of 109.73. The pair is expected to find its first resistance at 110.23, and a rise through could take it to the next resistance level of 110.43.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
