USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.60% against the JPY and closed at 103.42.
In the Asian session, at GMT0300, the pair is trading at 103.47, with the USD trading marginally higher against the JPY from yesterday’s close.
The pair is expected to find support at 103.06, and a fall through could take it to the next support level of 102.65. The pair is expected to find its first resistance at 103.94, and a rise through could take it to the next resistance level of 104.41.
With no significant economic releases in Japan today, investors will look forward to the nation’s preliminary leading and coincident indices data, scheduled to release tomorrow.
The currency pair is trading above its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
