USD/JPY: Japanese Yen extends its gains in the Asian session

USDJPY

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.

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