USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.46% against the JPY and closed at 109.98.
In the Asian session, at GMT0300, the pair is trading at 110.00, with the USD trading slightly higher against the JPY from yesterday’s close.
The pair is expected to find support at 109.63, and a fall through could take it to the next support level of 109.25. The pair is expected to find its first resistance at 110.53, and a rise through could take it to the next resistance level of 111.05.
Going ahead, traders would look forward to Japan’s machine tool orders for July, slated to release in a while.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
