USDJPY Movement
On Friday, the USD weakened 0.96% against the JPY and closed at 118.64.
In the Asian session, at GMT0400, the pair is trading at 118.3, with the USD trading 0.29% lower from Friday’s close.
The pair is expected to find support at 117.68, and a fall through could take it to the next support level of 117.07. The pair is expected to find its first resistance at 119.35, and a rise through could take it to the next resistance level of 120.40.
On account of a holiday in Japan, investor sentiment would be governed by global macroeconomic news.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
