USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.16% against the JPY and closed at 111.56.
In the Asian session, at GMT0400, the pair is trading at 111.38, with the USD trading 0.16% lower from Friday’s close.
The pair is expected to find support at 111.03, and a fall through could take it to the next support level of 110.68. The pair is expected to find its first resistance at 111.74, and a rise through could take it to the next resistance level of 112.11.
On account of a holiday observed in Japan today, market participants will look forward to the nation’s Nikkei manufacturing PMI and all industry activity index data, scheduled to release in the early hours tomorrow.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
