USDJPY Movement
For the 24 hours to 23:00 GMT, the USD marginally weakened against the JPY and closed at 111.09.
In the Asian session, at GMT0300, the pair is trading at 111.3, with the USD trading 0.19% higher against the JPY from yesterday’s close.
The pair is expected to find support at 110.85, and a fall through could take it to the next support level of 110.41. The pair is expected to find its first resistance at 111.58, and a rise through could take it to the next resistance level of 111.87.
Moving ahead, market participants await the release of Japan’s national consumer price index, industrial production and unemployment rate data, all for the month of February and scheduled to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
