USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.05% against the JPY and closed at 108.56.
In the Asian session, at GMT0400, the pair is trading at 108.21, with the USD trading 0.32% lower against the JPY from yesterday’s close.
The pair is expected to find support at 107.85, and a fall through could take it to the next support level of 107.49. The pair is expected to find its first resistance at 108.72, and a rise through could take it to the next resistance level of 109.23.
Going ahead, traders would closely monitor Japan’s Jibun Bank manufacturing and services PMIs along with the consumer confidence index, all slated to release next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
