USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.34% against the JPY and closed at 108.03.
In the Asian session, at GMT0300, the pair is trading at 107.92, with the USD trading 0.10% lower against the JPY from yesterday’s close.
Overnight data showed that in Japan, the national consumer price index (CPI) rose 0.3% on a yearly basis in August. In the prior month, the national CPI had advanced 0.5%.
The pair is expected to find support at 107.74, and a fall through could take it to the next support level of 107.55. The pair is expected to find its first resistance at 108.16, and a rise through could take it to the next resistance level of 108.39.
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.
