USDJPY Movement
On Friday, the USD weakened 0.36% against the JPY and closed at 104.47, in a thin-holiday trading session.
In the Asian session, at GMT0400, the pair is trading at 104.37, with the USD trading 0.09% lower from Friday’s close.
The pair is expected to find support at 103.98, and a fall through could take it to the next support level of 103.58. The pair is expected to find its first resistance at 104.87, and a rise through could take it to the next resistance level of 105.36.
Later during the day, the Bank of Japan’s (BoJ) is expected to release data on the nation’s monetary base.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
