USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.27% against the JPY and closed at 120.23.
In the Asian session, at GMT0300, the pair is trading at 120.19, with the USD trading marginally lower from Friday’s close.
The pair is expected to find support at 119.93, and a fall through could take it to the next support level of 119.67. The pair is expected to find its first resistance at 120.41, and a rise through could take it to the next resistance level of 120.62.
Moving ahead, market participants will closely follow the BoJ minutes from its September 14-15 meeting, scheduled to be released overnight.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
