USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.09% against the JPY and closed at 123.41.
In the Asian session, at GMT0300, the pair is trading at 123.54, with the USD trading 0.11% higher from yesterday’s close.
The pair is expected to find support at 123.29, and a fall through could take it to the next support level of 123.05. The pair is expected to find its first resistance at 123.79, and a rise through could take it to the next resistance level of 124.05.
Meanwhile, investors would focus on Japan’s merchandise trade balance data, scheduled overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
