USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.20% against the JPY and closed at 108.86.
In the Asian session, at GMT0400, the pair is trading at 108.86, with the USD trading flat against the JPY from yesterday’s close.
The pair is expected to find support at 108.54, and a fall through could take it to the next support level of 108.22. The pair is expected to find its first resistance at 109.07, and a rise through could take it to the next resistance level of 109.28.
Looking ahead, traders would focus on Japan’s coincident index and leading economic index, both for October, slated to release early morning tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
