USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.32% against the JPY and closed at 110.59 on Friday.
In the Asian session, at GMT0300, the pair is trading at 110.54, with the USD trading 0.05% lower against the JPY from Friday’s close.
The pair is expected to find support at 110.27, and a fall through could take it to the next support level of 110.01. The pair is expected to find its first resistance at 110.85, and a rise through could take it to the next resistance level of 111.17.
In absence of key economic releases in Japan today, investor sentiment would be determined by global macroeconomic events.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
