USDJPY Movement
On Friday, the USD strengthened 1.27% against the JPY and closed at 109.75.
In the Asian session, at GMT0300, the pair is trading at 109.58, with the USD trading 0.15% lower from Friday’s close.
The pair is expected to find support at 108.86, and a fall through could take it to the next support level of 108.13. The pair is expected to find its first resistance at 110.11, and a rise through could take it to the next resistance level of 110.64.
Meanwhile, investors would keep a close eye on the BoJ’s interest rate decision, scheduled in the early hours tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
