USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.47% against the JPY and closed at 107.04.
In the Asian session, at GMT0400, the pair is trading at 106.96, with the USD trading 0.07% lower against the JPY from yesterday’s close.
The pair is expected to find support at 106.53, and a fall through could take it to the next support level of 106.09. The pair is expected to find its first resistance at 107.25, and a rise through could take it to the next resistance level of 107.53.
Looking forward, traders would keep a close watch on Japan’s flash industrial production, retail trade and large retailers’ sales, all for January, slated to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
