USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.06% against the JPY and closed at 109.32 on Friday.
In the Asian session, at GMT0300, the pair is trading at 109.33, with the USD trading slightly higher against the JPY from Friday’s close.
The pair is expected to find support at 109.15, and a fall through could take it to the next support level of 108.96. The pair is expected to find its first resistance at 109.52, and a rise through could take it to the next resistance level of 109.70.
Moving ahead, market participants would keep a close watch on Japan’s flash machine tool orders for April, due to release in a while.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
