USDJPY Movement
For the 24 hours to 23:00 GMT, the USD marginally declined against the JPY and closed at 113.57.
In the Asian session, at GMT0400, the pair is trading at 113.40, with the USD trading 0.15% lower against the JPY from yesterday’s close.
The pair is expected to find support at 113.10, and a fall through could take it to the next support level of 112.79. The pair is expected to find its first resistance at 113.71, and a rise through could take it to the next resistance level of 114.01.
Going Forward, investors would await Japan’s national consumer price index, Nikkei manufacturing PMI and trade balance data, all set to release next week.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
