USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.31% against the JPY and closed at 102.43.
In the Asian session, at GMT0300, the pair is trading at 102.35, with the USD trading 0.08% lower against the JPY from yesterday’s close.
The pair is expected to find support at 101.96, and a fall through could take it to the next support level of 101.56. The pair is expected to find its first resistance at 102.70, and a rise through could take it to the next resistance level of 103.04.
Going ahead, investors would await the release of Japan’s preliminary machine tool orders data for July, scheduled to release in some time.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
