On Friday, the USD is trading marginally lower against the JPY and closed at 101.77. The Japanese Yen extended its previous session’s gains triggered by IMF’s decision to upgrade Japan’s growth outlook for this year.
In the Asian session, at GMT0300, the pair is trading at 101.8, with the USD trading slightly higher from Friday’s close.
The pair is expected to find support at 101.68, and a fall through could take it to the next support level of 101.57. The pair is expected to find its first resistance at 101.93, and a rise through could take it to the next resistance level of 102.06.
Trading trends in the Yen today are expected to be determined by the slew of releases from Japan scheduled midnight.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.