USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened marginally against the JPY and closed at 118.94.
In the Asian session, at GMT0300, the pair is trading at 119.15, with the USD trading 0.18% higher from yesterday’s close.
The pair is expected to find support at 118.39, and a fall through could take it to the next support level of 117.63. The pair is expected to find its first resistance at 119.58, and a rise through could take it to the next resistance level of 120.02.
Going forward, Japan’s all industry activity index and Nikkei PMI manufacturing data, scheduled to release next week would come under investor’s radar.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
