USDJPY Movement
For the 24 hours to 23:00 GMT, the USD marginally declined against the JPY and closed at 108.58.
In the Asian session, at GMT0400, the pair is trading at 108.63, with the USD trading 0.05% higher against the JPY from yesterday’s close.
The pair is expected to find support at 108.48, and a fall through could take it to the next support level of 108.33. The pair is expected to find its first resistance at 108.73, and a rise through could take it to the next resistance level of 108.83.
Moving ahead, traders would await Japan’s producer price index for November, set to release overnight.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
