USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.62% against the JPY and closed at 103.47.
In the Asian session, at GMT0300, the pair is trading at 103.43, with the USD trading slightly lower against the JPY from yesterday’s close.
The pair is expected to find support at 102.87, and a fall through could take it to the next support level of 102.30. The pair is expected to find its first resistance at 103.83, and a rise through could take it to the next resistance level of 104.22.
Moving ahead, market participants would look forward to Japan’s flash leading and coincident indices, both for August, scheduled to release in the early hours of tomorrow.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
