USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.40% against the JPY and closed at 98.96, after the US lawmakers agreed on a debt ceiling deal, needed to reopen the government and save the country from default.
In the Asian session, at GMT0300, the pair is trading at 98.64, with the USD trading 0.33% lower from yesterday’s close.
The pair is expected to find support at 98.25, and a fall through could take it to the next support level of 97.86. The pair is expected to find its first resistance at 99.02, and a rise through could take it to the next resistance level of 99.41.
Amid lack of major economic releases from Japan, traders are expected to keep a tab of global economic news for further direction in the pair.
The currency pair is trading just below its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
