USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.72% against the JPY and closed at 101.17.
In the Asian session, at GMT0300, the pair is trading at 101.22, with the USD trading marginally higher against the JPY from yesterday’s close.
The pair is expected to find support at 100.92, and a fall through could take it to the next support level of 100.62. The pair is expected to find its first resistance at 101.54, and a rise through could take it to the next resistance level of 101.86.
With no economic releases in Japan today, investor sentiments would be governed by global macroeconomic factors.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
