USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.19% against the JPY and closed at 103.90.
Yesterday, Japan’s Vice Economy Minister, Yasutoshi Nishimura, cautioned that the Japanese government needs to be more careful regarding its upcoming decision about raising the national sales tax.
In the Asian session, at GMT0300, the pair is trading at 103.77, with the USD trading 0.12% lower from yesterday’s close.
The pair is expected to find support at 103.61, and a fall through could take it to the next support level of 103.46. The pair is expected to find its first resistance at 104.01, and a rise through could take it to the next resistance level of 104.25.
Going forward, investors would focus on Japan’s crucial consumer prices and jobless rate data, scheduled to release in the midnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
