USDJPY Movement
For the 24 hours to 23:00 GMT, the USD slightly rose against the JPY and closed at 107.34 on Friday.
In the Asian session, at GMT0300, the pair is trading at 107.37, with the USD trading marginally higher against the JPY from Friday’s close.
The pair is expected to find support at 107.03, and a fall through could take it to the next support level of 106.70. The pair is expected to find its first resistance at 107.72, and a rise through could take it to the next resistance level of 108.08.
Trading trend in the Japanese Yen today, is expected to be determined by the Bank of Japan’s monetary policy meeting minutes, set to release overnight.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
