USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.89% against the JPY and closed at 123.58.
In the Asian session, at GMT0300, the pair is trading at 123.49, with the USD trading 0.07% lower from yesterday’s close.
The pair is expected to find support at 122.74, and a fall through could take it to the next support level of 121.98. The pair is expected to find its first resistance at 123.99, and a rise through could take it to the next resistance level of 124.49.
The BoJ’s monetary policy statement, scheduled in the early morning tomorrow, would be closely monitored by market participants.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
