USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.26% against the JPY and closed at 101.99.
In the Asian session, at GMT0300, the pair is trading at 102.01, with the USD trading marginally higher against the JPY from yesterday’s close.
The pair is expected to find support at 101.53, and a fall through could take it to the next support level of 101.04. The pair is expected to find its first resistance at 102.34, and a rise through could take it to the next resistance level of 102.66.
Going ahead, investors will look forward to Japan’s retail trade data for May, scheduled to release tonight.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
