USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.3% against the JPY and closed at 111.47.
In the Asian session, at GMT0300, the pair is trading at 111.52, with the USD trading slightly higher against the JPY from yesterday’s close.
The pair is expected to find support at 111.21, and a fall through could take it to the next support level of 110.91. The pair is expected to find its first resistance at 111.74, and a rise through could take it to the next resistance level of 111.97.
Moving ahead, traders will look forward to Japan’s adjusted merchandise trade balance data for August, due to release overnight.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
