USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.10% against the JPY and closed at 119.50.
In the Asian session, at GMT0300, the pair is trading at 119.51, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 119.29, and a fall through could take it to the next support level of 119.08. The pair is expected to find its first resistance at 119.65, and a rise through could take it to the next resistance level of 119.79.
Going ahead, market participants will look forward to Japan’s merchandise trade balance data for September, scheduled to be released overnight.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
