USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.22% against the JPY and closed at 109.11 on Friday.
In the Asian session, at GMT0300, the pair is trading at 109.1, with the USD trading slightly lower against the JPY from Friday’s close.
The pair is expected to find support at 108.87, and a fall through could take it to the next support level of 108.65. The pair is expected to find its first resistance at 109.43, and a rise through could take it to the next resistance level of 109.77.
Going forward, Japan’s final Nikkei manufacturing PMI for April, set to release overnight, will be on investors’ radar.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
