USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.38% against the JPY and closed at 113.56.
In the Asian session, at GMT0400, the pair is trading at 113.92, with the USD trading 0.32% higher from yesterday’s close.
Earlier today, data indicated that Japan’s Nikkei services PMI declined to a seven-month low level of 51.2 in February, from a reading of 52.4 in the preceding month.
The pair is expected to find support at 113.24, and a fall through could take it to the next support level of 112.55. The pair is expected to find its first resistance at 114.59, and a rise through could take it to the next resistance level of 115.26.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
