USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose slightly against the JPY and closed at 111.35.
In the Asian session, at GMT0300, the pair is trading at 111.32, with the USD trading marginally lower against the JPY from yesterday’s close.
The pair is expected to find support at 111.17, and a fall through could take it to the next support level of 111.02. The pair is expected to find its first resistance at 111.50, and a rise through could take it to the next resistance level of 111.68.
Moving ahead, investors will keep an eye on Japan’s leading index and coincident index for June, scheduled to release in a while. Also, Japan’s trade balance data for June, set to release overnight, will keep traders on their toes.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
