USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.05% against the JPY and closed at 110.93.
In the Asian session, at GMT0300, the pair is trading at 110.90, with the USD trading slightly lower against the JPY from yesterday’s close.
The pair is expected to find support at 110.71, and a fall through could take it to the next support level of 110.51. The pair is expected to find its first resistance at 111.25, and a rise through could take it to the next resistance level of 111.59.
Going ahead, Japan’s flash Nikkei manufacturing PMI for May, set to release overnight, will garner significant amount of market attention.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
