USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 3.01% against the JPY and closed at 106.83.
In the Asian session, at GMT0300, the pair is trading at 106.54, with the USD trading 0.27% lower against the JPY from yesterday’s close.
The pair is expected to find support at 106.26, and a fall through could take it to the next support level of 105.98. The pair is expected to find its first resistance at 107.07, and a rise through could take it to the next resistance level of 107.60.
Looking forward, investors would keep a watch on Japan’s retail trade and industrial production, both for March, slated to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
