USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.55% against the JPY and closed at 98.16, as better than expected US durable goods orders, CB consumer confidence and new home sales figures lifted investor confidence in the greenback.
In the Asian session, at GMT0300, the pair is trading at 97.83, with the USD trading 0.34% lower from yesterday’s close.
The pair is expected to find support at 97.11, and a fall through could take it to the next support level of 96.39. The pair is expected to find its first resistance at 98.40, and a rise through could take it to the next resistance level of 98.98.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
